Other sources may get you leads but more don't pan out in my experience.   

Once you get that ironed out, connect with some local investor focused realtors who also invest themselves who can help source deals for you to look at.

I like option 2 to diversify the investments in 3 smaller rental propertires, 3/2 around 1500 sqft, in good school districts which will open the biggest pool of tenants. 

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

pretty warm right now, biggest problem is most of our inventory has been bought so we are waiting on more multifamilies to hit the market.

One of the biggest time sucks can be finding & screening a tenant!

Biggest question in my mind will be the Ocean front..

The biggest 'danger' I've experienced in the coaching space was coaches who took the cash and wanted me to follow 'their' program rather than coaching me where I am to get where I wanted to go. 

What’s your biggest challenge so far in analyzing those deals?

Anyone know of any good sources for small business HELOCs?