Meaning once they get properly underwritten they'll be pressing DTI limits.Those two are not going to be reason the pent up demand gets exercised; if rates drop significantly and quickly it's for a net negative reason and likely job loss so those "pre" qualified and approved are likely on shaky grounds and buyer expectation shifts happen to the one's that are extremely well qualified. 

The main issue I've come across is that everything in this price range would be cash flow negative.

The key is to not have negative cash flow.

Idealizing a past scenario is purely negative.

@Nathan Frost  Ironically, I did the majority of my real estate investing in Texas while living in Metro Detroit, and you are doing somewhat the reverse.I didn't want to get too negative, but suffice to say the City of Detroit* is a very tough market. 

This gets my mortgage payment barely at break even for LTR value, (could be negative cash flowing), and lowers to about a 6% CoC (with down payment, renov and furnishings' costs)About 1.5 pt lower than my goal and with an MAO $10K higher than I wanted.b.

(which I feel like a couple of these other comments talking negatively didn’t at all) If you just show up, they basically hold you by the hand in terms of market selection, deal analysis, financing, design, setup, the listing, pricing strategies, management, etc.

Given current interest rates, I don't want to be cashflow negative so I will likely be leaving most if not all of my renovation money in the deal.

Sorry to be so negative, just wanted to point out some of the drawbacks of what you are proposing, I hope it is at least a little helpful.

Don’t listen to dooms day people like DAN H (lol just kidding ) but Dan you are so negative in the forums… you know a lot but there is a way!