Could you provide more details on how to get started with this approach?

Sounds like a good approach @Jeremy Jareckyj!

That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

As we move into 2025, these trends are shaping how we approach renovations:Open Floor Plans with Purpose: Open concepts remain a top priority, but it’s no longer just about tearing down walls.

Be professional, but also authentic and approachable.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Definitely an inspiration as a new investor and I appreciate seeing the approach you took.

You’ve gained valuable experience from your first duplex and are now approaching real estate with a strategic mindset

One common approach is to form a legal entity, such as an LLC, where both of you are equal partners.