Do you understand the expenses and regulations involved? 

Just be sure to check the local regulations before diving in.

Focus on growth areas, understand local regulations, and use your rental history to build credibility with brokers and sellers.Good luck!

@Sebastian Tamburro you're going to get advice/offers from numerous people trying to profit off you - be careful!

WikipediaPro-business environment: Companies are reluctant to set up operations in cities with burdensome regulations that hinder profitable operations.

There will always be demand in the market (it's not like some covid markets that could disappear as vacation destinations almost entirely over the next decade), and the regulation risk is as near to zero as you can get in this industry so long as you buy in the approved tourist zones (again, compared to some smaller/less mature markets where they could outlaw STRs tomorrow).For short period cash flow there are better options. 

Prior to these neighbors, the unit above was occupied, and we never experienced any problems.We’ve spoken to management multiple times, but they’ve been completely unhelpful and have taken no meaningful action and even told us that we are making the noise up, inspite security having been to our apartment numerous times wittnessing the noise. 

Consider not just the purchase price but also renovation costs, property management fees, and local rental rates.Consider the Property Management Aspect: If you’re not planning to manage the properties yourself, finding a reputable property management company is essential to ensure smooth operations.Stay Updated on Local Regulations: Familiarize yourself with rental laws and regulations in Detroit to avoid any potential issues down the line.Feel free to ask any questions as you continue your journey.

North of Austin, the county regulations say you don't have to do it IF you're only doing residential, certain lot sizes and limiting the impervious cover of each lot.

The reason for this is that RE market prices are based on numerous criteria.