We are quite fortunate in SE Mich. to have quite a few REIAs.

@Derrick French , welcome to BP.There is a pretty good SE Michigan contingent on here so dive in and start absorbing the enormous amount of information on the site.

I live in Germany but am trying to move back home to Iowa to be closer to my son who lives in SE Iowa.

and the SE Michigan crew on here - I'm sure the Metro Detroit folks can give you a current recommendation.

There are a lot of SE WI BP members.  

With careful planning and organization, you could structure this to significantly reduce SE tax.

I looked through listings in SE Raleigh.

I have checked out a few of the turnkey providers that post on here and see CAP rates listed between 8-14% for a property depending on the area.Can anyone suggest an appropriate CAP rate for SE Michigan?

St Clair Shores is a very nice community that wasn't hit as hard as some other areas in SE Michigan when property values started going down.

I should clarify that this is not an investment property per se; I like the house it's worth the appraisal at 74k.