Even with this decline, nearly a quarter of buyers are still paying in cash, which shows strong confidence in the market.Median Sale Price: Here’s a silver lining—median sale prices rose by 4.1%, reaching $640,000.

This might include smoke detectors, carbon monoxide detectors, proper egress windows, and handicap accessibility. 

My LTR lease does not say no smoking inside.

As long as everything works (lights, plumbing, etc.) and there are no hazards (like an open ground) the big things are peeling paint (particularly on window sills) and smoke detectors.

So while you blow smoke and mirrors and a bunch of virtual baloney I’m sharing about what’s really taking place on the ground in Detroit.

It's a bit of a mess and we are trying to find all the possible silver linings. 

There is no silver bullet, secret sauce - you have to doggedly grind and with luck - find one property that meets your criteria in an area you are familiar with and know is in demand.

The only silver lining was that we also significantly underestimated our bed rates - an average of $1800 per bed less.

Its been great while working in the house with the rehab, however I am concerned with a Tennant taking advantage of this: smoking inside, not opening the windows while running it causing a backdraft from other appliances like the water heater which would cause it not able to vent to the outside properly, and I'm sure there are others. 

I personally like House-hacking as primary choice in this market, followed by a light rehab BRRR, lastly would be flip or long term hold (unless you got a smoking deal!)