Prices are still relatively low compared to many other metros, and rental demand remains strong.I built my portfolio to 12 doors there while living in Detroit (now back in California) and have seen firsthand how the right strategy can still work.

Nothing about this part of what the lender said sounds off.  

If it's a fixer upper you would account for the rehab and purchase price then compare against the ARV.

Get Pre-Approval from Hard Money Lender.2.

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

Most long-term lenders will use an AMC to select the appraiser.

The city also benefits from a relatively low cost of living compared to other major cities, attracting both renters and investors.

And what timeline can lender #2 close in? 

For that reason, most of these lenders want to ensure you OWN your primary residence.

And does your lender have any issues with Delta?