Failing that, stay in your Blue state and just get smart, hunker down, lawyer up, and play the game to win.

I want the longer term peace of mind and ability to play the waiting game.

I’ve learned that sometimes in order to get what you want, you need to play the firm ***** card and hold people accountable to their word.  

If you plan to play the role of the 'hands off' money guy, I think you can get away with not being at the property, but I would not recommend it. 

I hadlightning take out a 55" TCL Roku, a full-size virtual pinball table, xbox, directTv and internet equipment in a single hit with a guest in place, and the next guests big thing was wanting to play the pinball table.  

I also play the penny slots when I go to Vegas and only take $20 with me if that explains anything. 😊 Lol…

Start an eviction process as soon as the tenant default, best case scenario you work out a deal and drop the case, worst case you move forward with the eviction and you didn't lose precious time trying to make things work (guessing you're in a C-D areas of Detroit, tenants are well aware of the process and like to play the watch to stay in the house for free as long as possible), navigating the courts since covid is a lengthy process so the sooner you start the better. 

Letting a Government run your business is not my cup of tea....Having said that, if you can tolerate the Govt being involved, you can make a lot of money...just play the game.

@Matt Teegarden, as noted, the deeper the value-add play the less cap rate matters.

The first is more of an equity play, the latter more of a cash flow play.