My wife and I are currently looking into investing in Detroit and have secured the pre-approval letter.

My wife and I are pre-approved for a home and have been considering house-hacking a multifamily in the Poughkeepsie area; potentially focusing on medium term rentals for traveling nurses.

In addition to this, I've also invested in pre-construction condos in the Miami area.

@Annette Yim- if you are working with a  realtor - ask them these questions ...if you arent working with an agent - consider doing so  until you  get  experience to  work without one ......also - if you will need to use a loan - make sure you are fully  pre approval before making an offer 

We post similar rules on the fridge and is in multiple pre-check in communications.  98% of guests are great. 

The baseline SFH price in coastal markets is much higher than it was pre-pandemic, with remote work making it that much easier to live in a "vacation" market.

If you expect to have $2mil to invest and need $160k gross (120k net assuming 25% tax for sake of example), that's an 8% pre-tax yield. 

I like the idea of sellers doing their own pre-inspection prior to listing and sharing that with potential buyers, and I’ve recommended that to sellers before.

The best first step you can do is get pre-qualified with a good lender, then start looking at and analyzing potential properties.  

@Lou Bar- thanks ...all lenders should be in the same ballpark  with pricing options  BUT .....they  will likely also vary ....best thing to do if needing a loan is to contact several lenders on the same day / use the same  criteia /  get  quotes for the scenario and  then make a decsion on using  one for the loan or the  pre approval ...also keep in mind that loan pricing  changes daily