You can then sell it or keep living in it at that point at a new capital basis (you’ve locked in prior cap gains avoidance), but keep the old property tax basis.

We sold 3 locations that had little debt on them with great cashflow, stayed heavy in cash, our stock return was only around 11% versus 25% since we went conservative, have two projects banks have already greenlighted with no downpayment on our part using cross collateralization with other properties- built in $2.5mm equity creation in 3 years in those projects, on hold for now.  .   

Otherwise its all about the classic location location location.

We have many efficincies under management with a ~10% vacancy rate with prices ranging from 485-625 depending on location property quality and amenities.

Detroit has a lot of real estate investor meetups that you can locate in the events forum here and on meetup dot com.

There are surely STR Facebook groups for this location.

I like Dundalk because of it's location (easy to get south and 20 minutes away from shopping areas.Any advice on this area?

Depending on the location of your properties, an assistant might be much better than a property management company.

I am located in western Wisconsin. 

Quote from @Matt Smith: Quote from @Malek Bohsali: Where you're located, are you required to comply with today's standards for the entire home or only for the renovated parts of the property?