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

The foundation was already approved, permitted and finaled years ago for a 3400 sf house, and its solid and I won't be building directly on the overhang edge; but rather back away from the edge a few feet to prevent any load issues all the weight will be on the longer sides of the existing footing.

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

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.

Have you identified your target buyer’s preferences in your local market?

Currently, we are targeting multifamily properties of 100+ units, and have been actively engaging with various owners and brokers, submitting Letters of Intent (LOIs) and working to secure deals.While some may consider our approach bold for new investors, we are confident that, with the right team and expertise, we can succeed in achieving our objectives.I’m excited to be part of this community and look forward to learning from your collective experience.

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).

Are you basing this solely on what you can afford, or what you intend to make on it, or your target sale price? 

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.

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