But if you put in the effort, Detroit can be incredibly rewarding.Over the last several years, the city has been on a steady upswing: population growth, major corporate investments, and increasing demand for housing are all positive indicators.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

A majority were single-family investors.  

I have no interest, and neither will a majority of investors. 

I'll keep it fully furnished, so I can potentially charge more, especially since it’s also near a major hospital in Astoria and close to LGA.Do you think this plan is feasible?

Hey @Timothy Frazier,Majority of HML's will only take 1st position!

All but one of the family members are on board, and we collectively own the majority, but it's 55% and the bank requires 60%.

Fortunately, all major capex are in great shape (roof: 5 years, AC: 3 years, siding: 6 years).I just wanted to say a big thank you to the BiggerPockets community! 

When was it built, and how old are the major systems?

One of the major deficiencies of this property is it has no garage.