It's even doing better than Columbus, OH, which is starting to fade.Detroit's focus on removing blighted buildings has been key to its renaissance, reducing inventory and improving neighborhoods. 

I've been blessed to have the opportunity to now pursue my dreams of investing in real estate to build wealth for my family while improving the communities we touch. 

Improvements needed?  

For future years, we probably wouldn't meet the 500 hours test (though we still do participate a significant amount as we periodically re-stock supplies at the place, handle most maintenance issues due to shortage of workers in the town, and monitor sensors during guest stays - leak sensors/heat/stove).Specific Questions on Depreciation:Assuming that I have the qualifications for non-passive activity, I then have some questions on bonus depreciation and related stuff.5) It is my understanding that Qualified Improvement Property (QIP) bonus depreciation is probably not useful for me because I did most of the renovations prior to placing the property in-service (save for a few things).

Should I try to save more money and improve my credit for a better rate or try to get creative financing for my possible investment.

Not knowing what they said take it as an opportunity to fix and improve rather than they were difficult.

It took me about three years, after improving the units, raising the rents yearly and reducing my costs, to break even.

The numbers depend on the neighborhood, but the old Harrowgate (which is much improved) numbers were crazy - buy in around 60-70k, limited rehab 5-10k, and rent for 1200.

What recommendations would have to improve our agreement structure to account for the risk?

Cash flow improves with time.