That said, be prepared to act fast on non REOs, or shell out a little more than usual and bring an inspector during tours.

Typically, as I'm searching for further acquisitions, I don't even consider deals that won't return at least a fast 300%, with no further CapEx, just by clipping-and-flipping.

There's likely so much competition at the comps stage that it's commoditized at this point.I would be curious to hear from others, like @Nicholas L. or @Bob Stevens what parts *after* pulling comps they feel could possible be automated without falling into non-scalable traps like iBuyers ran into once they tried scaling their algorithms.

Analyzing an investment with the Cash on Cash return makes more sense to me.

In those cases where a tenant suffered a minor setback and is back on track, if they are scheduled for a hearing before they're evicted they will often pay before that or when they see the notice on the door, but only if you file relatively soon.It really is good screening and filing quickly and consistently that minimize nasty non-payment issues in just about any kind of market. 

And many times the houses were not touched.. so sweat equity.there were companies in Texas that would prey on non English speakers.. they trolled BP a few years back. 

Heck, you process debit cards if you insist for 1/10th the cost and non-reversible. 

Just give them a non renewal notice.

So it's very easy to criticize these markets if you've never been here or really know anything about the area and are just making broad, sweeping generalizations, but if you have a strong team on the ground who can help you buy in the right neighborhoods and maximize your returns, you can do very well in this market, and I'm sure Detroit as well.I had a buyer who bought a duplex in Cleveland for 85k last year.  

A non-recourse loan is an option if your SDIRA doesn't have enough funds.