The time and effort, road blocks and struggles associated with starting with nothing are seldom worth your efforts. 95% of those starting out will fail.

-BRICK BRICK BRICK only-Warranty Deed (never QCD)-make sure the block is decent (minimum vacants, owners vs rentals, pride of ownership)-check back water and delinquents taxes (https://pta.waynecounty.com/Home/PropertySearch, http://www.detroitmi.gov/dwsd)

If I’m computing my comps number and cannot find houses that’s in the subject property couple block radius; can I then uses other properties thats futther out?

I've found another property that I feel confident will bring me a similar return as the first (same city, about 3 blocks away, similar price, similar SF, same Bedroom, more baths), but I'm not sure I should buy 3 properties within 1.1 years as it will make me leveraged to the tune of about $550,000.

I am looking at a beautiful 4 bedroom 2 bathroom home with finished basement near a University I would like to rent out for Student housing. 2 miles from a train station, 5 blocks from the University entrance.

There are 2-family homes on the same block on the market for 1.1-1.3 mill.

One block is beautiful, safe, clean, old early 1900's colonials and victorians, and LITERALLY one block away there's gunfire because two gang members got into a disagreement about something. 

My place in SF is 2 blocks away from the convention center and it is rented on a weekly basis with a 5 day minimum.  

I know a gentleman that bought one distressed location in a somewhat bad neighborhood and rehabbed it, turned around and bought the one next to it , and so on and so forth until he had bought a whole block.

Also did a six block radius 'drive' through in Google Earth.