If its a paint and flooring renovation that is a much different risk profile than a complete gut job.

As investors, it's in our best interest to come up with systems for making decisions rather than going with our gut.

This is important, because when a week later a different customer sends same communication on a portfolio of nearly 7k unit's, followed days later by another at nearly 4K unit's, now panic start's to set in. 1 was a issue, the 2 a gut punch, but know it's getting serious.

My gut is it won't work since it barely cashflow now. 

The building is in excellent shape with $500k worth of gut renovations done to 2 out of 3 units, and a full exterior renovation. 

My gut tells me that the tiered approach will be a struggle for most investors to get past.

For the home I'm buying the parts and fixtures for now for two full baths completely gutted, which will be not upper middle or higher end for this market but high end with a incredible older (1938) home that's been updated with a very high end kitchen and more but two original and very obsolete baths upstairs, for the shower for instance, I'm quite sure a normal mixer and shower head, even if its a nice set, won't cut it.

I love data but also go with my gut on what I sense.

First of all, trust your instincts.

If you ever need to gut check something from a Detroit market expert feel free to hit me up.