In softer areas, like C- Detroit proper we are seeing lower demand.As always we recommend that rental comparisons need to be independently arrived at. 

Instead of attempting to get some arbitrary guess on your costs, wouldn't it be more valuable to you to get a more precise figure?

In my area the number of properties on the market continues to be very small and prices remain elevated and I wonder if this could be a contributing factor.  

Being furnished is also extra work, more things to break and be maintained.

Make sure you add on your lease that tenant is responsible for lawn maintenance (cutting and watering) Summer heat in Houston is brutal and your new grass ( and investment) will be dead by fall.

Something needs to be done with fake gurus out there! 

The apartment requires substantial work to be completed prior to renting. 

Property managers frequently consider smaller properties unproductive, whereas larger properties allow for more efficient operations and the potential to hire an in-house property manager and maintenance team.With just under 20 units on the site, you must be hands-on.

I suspect the lien of the judgment could be transfer to a bond posted with the clerk of the court. 

Just be sure you can afford your next project before jumping in.