Either way, after five years, I can say I achieved a certain level of passive income—just not the kind that puts cash in my pocket. 

Investors can benefit from steady rental income, especially in high-demand areas like Midtown, Corktown, and downtown Detroit.

.🔹 Great for Sellers & Investors – Motivated sellers can turn a vacant or hard-to-sell property into income while investors secure future deals without a huge upfront commitment.🔹 Ideal in Any Market – Whether home prices are rising or falling, lease options allow you to lock in today’s price while benefiting from future appreciation.Other creative strategies—like seller financing, subject-to deals, and the BRRRR method—can also open doors, but lease options remain one of the most powerful, low-risk, minimal cash out-of-pocket ways to build a portfolio.

How much income you'd want from the rentals and when you want that income to happen by. 

After years of focusing on my career and building financial stability, I’m ready to dive into real estate investing and start creating passive income and long-term wealth.My short-term goal is to purchase my first duplex or single family rental. 

I live in a lower-income area, so I figure that the better tenants you will get with a safe house, the ongoing safety the tenants feel, and the lowered risk of a break-in (when occupied or vacant getting ready to lease), and reduced headaches/vacancy/potential damage are worth the marginal up-front cost of having it installed.

If you are a doctor with proven income or a contract, the bank makes incredible deals that they wouldn't make for me. 

Leverage your construction skills for flips, start with smaller projects to minimize risk, and consider house hacking or long-term rentals for a steady income.

@Karim, I’ve been adding some properties/rental income on my Excel to see which locations would give a descent return.JLT gives good ROI, Marina does not.

Setting rent significantly above FMV could be seen as an attempt to shift income or inflate deductions, leading to potential penalties.