I know that, overwhelmingly, it's what you fill your head with that counts, it's the day-to-day actions you take, it's the spouse you marry, it's the systematic choices you make, and perhaps most importantly, the personal hypocrisy you don't allow yourself to get away with.

Take a strategic approach so you'll be well-positioned for a successful investment.

Baltimore gets a bad wrap sometimes, but from an REI perspective it can be great if approached correctly (which it sounds like you are doing!).

If you approach this business with the mind set of stealing the seller's equity - you are not going to be successful - remember you are dealing with folks who have a serious problem - show some empathy first and you will win in the end.

In a solid market, with a high quality SFR, you can either flip as-is to another investor, or at the other end, upgrade to flip status and retail to an end buyer.At the end of the day, all investors have a short term and long term approach to their model.  

We took this approach because even though the house is an STR it is also one we want to use as a family a couple times per year, and we feel we have our own personality as hosts, so we were particular about what we wanted. 

That is not the approach I would take,  especially in a rising interest rate environment.  

Here's how I would approach it:- Offer the Renewal to Both: Provide them with the option to renew the lease per Nathan's suggestion.

Seek out reviews and testimonials from other investors who have worked with them, inquire about their track record and experience in the Detroit market, and ensure that their values and approach align with your investment goals.

That's the approach a successful DIY landlord must incorporate.