2  - I often read about some wholesalers lack of knowledge and I must agree that sometimes, it is very true.

I recommend you call a local agent or broker to give you a better lay of the land so you understand the challenges/opportunities in this area.

If you do, you should expect a very aggressive challenge by the IRS.At $350K of combined value it might be worth the cost to get a segregation study if you intend to keep these a long time.

This is where the true opportunities are.Detroit, starting with Downtown is experiencing a massive redevelopment, at this point its no longer a secret. 

They have definitely become more challenging since rates have gone up.

Ok so a diff path then my previous post.I also wanted to invest in real estate but just assume( and bet is probably true) that most of the people that find truly good investments have  either or all of the following the most "average joes" don't:1.

The tried and true version is pulling a list of properties whether you're targeting distressed homes or high equity homes in which case you can pull on something like Propstream or Propwire, you can skip trace through them or someone like Prime Tracers which has a pay as you go system. 

Challenges?

I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging. 

If your looking to invest and learn about notes PPR may not be the right place as they are true mailbox $ and as passive as it gets (which is nice as well).