Many investors get scammed by agents & turnkey providers selling them Class C properties as Class B.The Metro Detroit area offers a wide range of investing options - as long as you deal with the right people:)PM us for more info.

Like everyone is saying, the best way to get started is to build a solid team of proven experts who can help cut your learning curve dramatically, as well as let you know the best areas to invest in, as well giving you recommendations to great contractors and management in the area.Here's a resource that really helps me stay knowledegable about a wide range of topics! 

I received about three different approaches ranging from connecting to the current drain which is 12 feet deep to raising the connection 5 feet below ground.I received a quote that was about $39k and decided to go with that.

So I have a lot of experience with a wide range of stuff.

Given my situation (see below), what real estate strategies are the best fit, what are the typical ranges of returns on them, and what are their other pros / cons?

EP #1 doesnt get out of bed unless the deal is $20mil+ and EP#2 is more in the $1-$2mil range and would hope to JV a potential project with others.

Their realtors want to sell houses from behind their desks and the extent of their work is to run a query of houses in your price range through MLS and tell you to go look at it yourself and let them know if you want it.

What kind of unit count range are you looking at

I am looking at a property/business in the 1.5 - 1.8MM range. 

You will then have a range of your homes potential value which can aid you in deciding which investment strategy to implement.