There are books written about this details but keep you focus on the end goal.The first deal turns theory into actual tenants, actual maintenance problems, etc. 

This is how I see it:Single-Family Homes:Pros:Larger pool of potential tenants (families).Simpler management (one tenant, one lease).Often easier to finance.May appreciate faster in some markets.Cons:Only one income stream.Vacancy hits harder financially.Duplexes:Pros:Two potential income streams.Live in one unit and rent the other (house hacking!)

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Why hasn't your property manager already answered this question?

My partner and I have a couple units we manage as well in Washington DC.

Our manager’s credit score requirement is 550, but even that has been hard to satisfy.

I wanted something I could fix and flip for the quick capital as well as the experience of managing a project, finding contractors, etc How did you find this deal and how did you negotiate it?

What makes you want to get into property management?

The same is true with property management.

Any insights on financing, managing renovations, or rental demand in Detroit would be greatly appreciated!