Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

I've had a lot of large repairs in the past year that just kill the cash flow.

The DST is losing $ due to upkeep costs (foundation, HVAC, normal repairs, etc.).

I guess it's just too many factors to consider and it easy to get overwhelmed and cannot get accurate info and estimation when I conduct analysis (ex. property tax rate, insurance, maintenance fee, rent, repair, closing cost, etc.) 

What do you think about investing in Detroit, such as buying a house, repairing it and renting it out?

Zoning says that it is a repair service shop, excluding automobiles, any idea if leasing out storage space would be permitted?

The catch is she is retired and won't have income except SS, thus I would be paying for everything...the HOA, repairs, utilities, insurance, etc.

What leads to the highest repair cost? 

Some numbers:Expected 2026 income after raising rents to market value and assuming 7% vacancy: $144k.Expenses: $14k property management, $18k property tax, $10k insurance, $10k utilities, $8k in repairs/maintenance/advertising/admin/etc: Total operating expenses: $60kNOI: $84kBased on 6% cap rate that brings the valuation to only $1.4m, or $1.5m based on 5.5% cap rate.

Okay, let's allocate $1500-$2,000 for this repair that will need to be done.