Worst case, you just cover it yourself and keep good neighbor relations.

I would love to hear from fellow seasoned investors who can relate to my sentiments in our current economic and real estate conditions.

Sure, but success is relative.

Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid.

WIth that said "passive" is relative lol. 

Yup. 400'is - 900's ad, was an "ice age".

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

De nada 😎I don't know that market at all (FYI, I don't see this is other Midwest markets where my CFO clients buy properties), but I suspect it's related to perhaps the international investors that agent may work with...they are often cash buyers as it's very difficult to borrow here if you're not a U.S. citizen.

Over a weekend, with help from relatives, we gutted the interior.

@Joseph Sakic the "pain" is directly related to:1) How much your current PMC cooperates2) What paperwork you already have or can get to send to the new PMC