If you plan on renovating the other 13 units, how will you pay for that?  

We plan on living in the house and doing most of the fixes and renovations ourselves.

This will be my first time managing a renovation out of state so I wanted to find people who have done this successfullyAny advice you have would be super appreciated, thank you! 

Despite its high purchase price, the neighborhood's strong market demand and low renovation needs made it a promising investment for maximizing profit with minimal turnaround time.

So I think moving the lot lines so the house and 2nd lot can be sold separately or even developed and also doing a moderate level renovation could really increase the value of this property overall. 

Purchase price: $55,000 Cash invested: $65,000 Sale price: $140,000 First complete renovation all but reframing--new electrical, HVAC, plumbing, complete bathroom and kitchen demo and remodel.

With a $35,000 renovation budget, we transformed the home, significantly enhancing its appeal and market value.

I'm a carpenter / contractor by trade, and I've done a few major whole-house renovations of personal homes over the last decade or so.  

Great area and property needed significant renovation upon acquisition.

But, in Detroit you need to compare renovated to other renovated homes, not just sales.