@Shannon VistisenI would definitely purchase it and do it yourself. 

One is better than most so you're definitely making progress.

It's definitely a sellers market here, the problem is, we can't find sellers.

It takes into account cash flow, leverage and amortization, depreciation and tax advantange, and appreciation.A property with great cash flow but minimal appreciation might not be the best return for money and effort.A property with negative cash flow and double digit appreciation can be a gold mine.A property with sucky cash flow and very high leverage could still be a great investment if the leverage is low interest because of amortization.The two biggest questions I challenge my clients to ask are not about performance (The IRR gives a definitive picture of that). 

@Jasmine Vida  Some groups have a lot of spam, but I've also found groups that are legit investors and also hold meet ups so its good for networking as well :)Send me some those Facebook groups that you found I would definitely like to join them! 

It's clear there are many paths to success in this market, and I hope our larger-scale project can find a way to contribute to Detroit's growth as well.Thank you for your time and consideration.

Nicholas makes a great point—having strong ties to a market definitely helps, and picking a random low-cost market without a network can be tough.

I will definitely take all this information and use it responsibly.

It definitely looks infinitely better than when you bought it, well done! 

Look to other members suggestions and, definitely interview your Realtor choices before going headlong into an agreement.