Most out-of-state investors looking at Detroit are typically focused on cash flow, which means they're usually targeting C or C+ neighborhoods.

Therefore, any strategic/investing where you have a solid plan to get most/all of your capital back would be my target for this type of capital.

If you are thinking of targeting travel nurses just know that most of the demand is in the 1-2 BR space.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

I recommend researching the average appreciation over the past 10 years in your target area to get a clearer picture.As you know, in real estate, ROI comes from multiple sources: Home Appreciation:  Reno Appreciation: Value added through renovations or improvements (usually just in the first year).

You'd think 60 years would have cleansed all that but it hasn't.You might target social service and local agencies since this property was in the past a half way house or similar and was only converted to market housing to make the sale to you.

One key he found was mixing a welcoming atmosphere with firm guidelines.. it typically falls under standard tenant landlord laws for eviction.. so you’ll want to double-check local regulations.You mentioned Furnished Finders and Padslipt.com.. from what I’ve heard, those can be great if you’re targeting traveling professionals or short term visitors.

Start by getting pre-approved with a VA/FHA lender and targeting a multi-family property where rental income covers most of your mortgage.Good luck!

I’m sharing my story so everyone can be aware and hopefully avoid the same experience.I received a call from one of my ads that targets probate clients.

I think the answer to your question depends on the type of tenant you would be targeting.