They have been completely unresponsive, and as a result, we’ve had three vacant units for several months (though I’m unsure of the exact timeline, as I handle the finances and have been kept in the dark).

Your utility cost is likely high as well.  

This property would cost $150k and would rent for $1200/month.

This is just a brief post to give some insight into the local maintenance costs in the Metro Detroit area. 

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

If it’s 3 months or 12 weeks.

I was holding approximately 20 of their properties at that time, so you can imagine that unexpectedly paying out 20 interest payments every month was impossible.   

We will monitor the trend closely to see if it is a data glitch.Rentals - Availability by MonthThe number of homes for rent had a significant decrease MoM, in line with our expectations.Rentals - Median Time to RentMedian time to rent decreased significantly in January, in line with our expectations.Rentals - Months of SupplyAbout 1.3 months of supply for our target rental property profile.

Even with our high mortgage cost, we are cash flowing !

Located on a mostly owner-occupied street, this one was on market about 2-3 weeks and then closed in a month to a cash, investor buyer.