That said, even with photos, comping homes in Detroit proper is extremely difficult.

Quote from @Zalman Ives: Even if he could get into a $1 million home with no money down, his PITI would be $90,000 a year.

I have an LTR also, so I know the upkeep they require between renters, even when they're not furnished.

@Michael BertschAs a general rule, we only leave a fireplace functional unless it has a sealed, externally vented, gas insert ... and, even then we may disconnect it.Check with your insurance provider and see how unhappy a functional fireplace in a rental makes them.

I even pay a fractional revenue manager to also check it on top of the software auto updates. 

So this is up to the local Memphis agent to have this talk first off with clients before they even send them listings to look at..

Additionally, we will see the unemployment rate tick up another .5%, to 4.9+ maybe even over 5%.   

One of the biggest risks I observe with flips and first time investors are instances where the project goes over budget or gets stuck in mud, can't sell and even worse the borrower doesn't have the credit profile to refinance out to a lower interest lending source if borrower is required to hold the property as a rental. 

He even teaches classes. 

Even when the deed is recorded you will be unable to obtain title insurance for at least a year from the date the deed is recorded.