How many bedrooms does the property have and in what zip code is it located?

Nobody watches your money like you do, you'll learn how to manage, so you can manage a manager later and you'll save precious early-years cash flow, which allows you to scale faster, especially in the first 5 years.

Locate a Motivated Seller that will consider Seller Financing.

@Hank Bank where are you located?

Managers will quit or worse.

I wasn't planning on going this big for my first investment but the deal, location and potential to value add was too good to not go for it.Thank you! 

Location, location, location.  

Look for a team with a strong track record in managing rentals like yours, especially in your target area.

If you stay in Northern Minnesota you could look to locate closer to Duluth which has a large supply of duplexes at prices much below $500K.

I personally would not invest in detroit as historically its not a appreciating market and for cash flow and I invest primarily for appreciation - I go off the location location location mantra.