The rent-to-price ratios are strong, property values remain relatively affordable compared to many other cities, and the city has been seeing real economic and population growth.I invest in Detroit myself and have built a portfolio of 12 doors there.

Buying a large new build home can also work well as a house hack as you can charge a premium rent, and generally most bedrooms built now a days have en suites (at least in my market).  

Nonetheless if you can build a 7 plex for $700K (in my area, things are getting built for $200-300 a square foot), it definitely seems like a profitable endeavor. 

Several chip factories getting built. 

I use to tear down dozens of homes here and in Franklinton that almost blew over. not a lot in linden since they are built after 1945 and without all the major issues. 

It's just unfortunate you were not notified to get the plumbers out sooner or the PM did not communicate not to leave the faucets off but ultimately if they were left off you likely would have had pressure built up and pipes burst (especially if they lines weren't all PEX) so the root issue of not having heating water lines still was the issue.

While I would have built $150,000 in equity, the cash flow simply doesn’t work.Now, let’s compare this to the market conditions when BRRRR was highly promoted (pre-2020).Interest Rate: 4.75%Monthly Payment: $3,057/monthRent: $3,600/monthIn this scenario, I’d be making over $500/month with $23,000 left in the deal, resulting in a gross 26% cash-on-cash return—an excellent deal.As you can see, rates and prices play a critical role in the viability of the BRRRR strategy.

For example, if she can't visit the property, is she good at record keeping (so everything is organized at tax time) or finding vendors, comparing product prices, finding free or low cost items on Facebook marketplace to improve the rental)3. emergency fund.

Permitted or not, you want 100% assurance the property is within building code standards for the year it was built, and for any upgrades/ changes - the years those upgrades were made; ie GFICs in wet areas currently, but not required in original construction back in 1950 when they didn't exist.sorry for not replying earlier, I'm rarely on this platformbest of luck on the project

Have the tenants take and send pictures of any maintenance items and video chat with the repair person as needed.If you ever get in a situation where you just feel like you can't do it or don't want to do it, you can always put a PM in place at any time.