You could get in with an established company that is looking for help.

They might work for smaller mom-and-pop units (2-8 units), but not for anything larger.Most owners of larger, more established multi-family properties don’t fall into the category of distressed landlords that off-market strategies usually target.

I'd attack the credit report :) 1) lower (pay down) whatever accounts have a high utilization percentage 2) contact each of 3 major consumer credit agencies and get a free report, then dispute every hard inquiry that is *NOT* associated with an open account 3) call the credit cards you already have established and ask for a credit line increase -- often can be done online and they do not verify income, hint hint. 

Four of the major criteria they consider when selecting a location are:Low crime: Companies are unlikely to establish new facilities in high-crime cities.

If your looking for the least amount of risk and biggest bang for your buck I would look for a company that is a reputable turnkey provider thats actually in Detroit and offers things such as an efficient boots on the ground team, all sorts of established local relationships, solid in-house management, an operation that is highly skilled and well versed in section 8, a company that has proven relationships with both out of state and local lenders.

🏦To get to the point where you can avoid personal guarantees, you’ll need to build your business credit over time:Open trade lines in your business’s name (utilities, vendors, etc.).Make sure you’re reporting payments to business credit agencies like D&B.Keep your debt-to-income ratio low and maintain good cash flow.It doesn’t really matter if it’s an LLC or S-Corp—what matters most is establishing the business as a strong, creditworthy entity.But yeah, in the early stages, personal guarantees are almost unavoidable.

And your gambling a LOT of $ on trying something out, via purchasing a property to try the waters.     

It's like gambling for them but will want a much higher pref and much higher equity upside from syndicator because of little to no track record.

Most enticing is it is located on a very well established street with a wall score of 92 - lots of restaurants, bars, shops and a park nearby.

I would take the gamble that rates will fall on their own over the next 3 years and live with the result.