Before it was rented I added kitchen cabinets and a counter where there was none, remodeled the bathroom (not a complete makeover, but substantial), added a dishwasher and installed flooring.  

That sets Detroit apart from the rest of the country where there's hundreds of voucher holders unable to find a property.

I know a developer who does it in hocking hills he builds a 1 bed 650 sq ft floorplan we just looked at hundreds of Floorplans and picked one we liked. 

I think is a stretch and it really depends on who they are bonding for one off individual Not so much.. big builder developer who is bringing them hundreds of thousands in title insurance and escrow income a year.. ( like I do on my projects) thats a whole nother kettle of fish.

Think of it from the PM's perspective: if you were them, would you deal with the significant headaches of a C or D area (non-paying tenants, trashed properties, crime, police calls, etc.) for a 10% cut of a single property (probably just a few hundred bucks a month) ...I wouldn't.To make matters worse, the property isn't appreciating (because it's in a low appreciation market, or even a depreciating market), and the tenant pool is primarily made up of people with bad credit, low/no income, and a history of property damage at the previous places they've rented.

All units are empty, and it is in really good shape for a hundred year old building.

Every area in the country I’d suspect has suppliers tgat should have less expensive cabinets, fixtures, carpets, vinyl/wood flooring etc. 

I think it makes sense to at least try renting even if it will cost me a couple hundred per month.

In California, forming an LLC usually costs a few hundred bucks, plus there's an annual fee, which varies but hopefully won't be more than $200.

@Caroline Knight I am a local lender based in Chicago and I have helped hundreds of Veterans with their VA loan and house hacking.