not fire, it is 300 years oak tree that falls.

I'm in the middle of a flip in Oak Cliff. 

It was a perfect 3/2 built in the early 90s with those solid oak cabinets, and enough well cared maintenance to make it one of those smooth rental houses.

In the few cities I focus on just north of the city (Royal Oak, Oak Park, Hazel Park, Ferndale, Berkley) prices are back at the levels seen before the crash. 

Renters in downtown, cool areas like Corktown, and established suburbs like Southfield, Gross Pointe, Royal Oak, Warren - yes there are solid tenants there paying $800-1000+ and can be trusted.

I would start by partnering with someone very experience and probably focus on BRRRR strategy on $50 k to $75 k SFR fixers in Tacoma, Lakewood, Lacey, Olympia, Tumwater, Arlington, Mt Vernon or Oak Harbor.  

Oak Lawn for instance is a nicer area, nicer schools, slightly lower profits. 

If they pass, Sedona city limit STR's will be tapped out, and Village of Oak Creek and some other areas will become prime STR areas and should be unrestricted by these new laws- in terms of a STR percentage cap.For investors that are not comfortable with the above "sweet spot", there are nearby areas between $450k-$700k that are giving similar returns.I hope this helps. 

Places like South Lyon, Livonia, Berkeley, Royal Oak, Livonia, Brighton, Novi.

North Linden, South of Main, Vassor Village, Woodland Park, MT Vernon, Milo-Grogan, Franklinton, Merrion Village, Hungarian Village, Southern Orchards, Driving Park, Olde Towne East, Franklin Park, King Lincoln, Old Oaks, Livingston Park are all but not limited to some areas in Columbus, Ohio I think will gentrify quickly and make for great long term buy and holds.