What do you think about investing in Detroit, such as buying a house, repairing it and renting it out?

Keep in mind travel time, repairs, and lifestyle to manage the out of state rental.

We've added natural gs lines where there were none in the building and got assistance from the gas company who paid for all the excavation and street repair to get the gas line to the building. 

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Given that and some other characteristics, from what I'm told it would be in demand as far as rental applicants.Ideally, I would like the option to return to it.With repair estimate of 1% of purchase price and property management fees, it's pretty much a break even on the monthly overhead.

. $6000 repair. 

In this manual (which I assume could be modified to provide to tenants) I include all the financing information (which you would not include for tenants) bank accounts, mortgage accounts, payment information, and mortgage payoff), a list of the contractors, what each contractor does, a list of upcoming planned or necessary repairs, and a copy of all leases associated with the property.

We are splitting up capital contributions at 50%, but see having different involvements in the repair process.

If we rent to own, they are OK, but we cant refinance because we don't have the deed.Are there any unique scenarios to help us get the property for little money out of pocket, we have the ability to have the deedSign a lease agreement with a purchase option that allows you to buy the property at an agreed price at the end of the lease term, consider establishing a partnership with the seller to jointly invest in property repairs and improvements.

This plan covers 24/7/365 troubleshooting services from Lula's experts (such as guidance on resetting a circuit breaker), tenant coordination for scheduling repairs, and access to a network of vetted professionals.Once you're subscribed to Lula, you can set aside a pre-approved amount for repairs, which can be used without needing to contact you as well.