One thing I’d stress is the significant difference between Detroit proper and the surrounding metro areas.

But, know what you want to accomplish beforehand.Creative Finance is a great way to buy properties when done properly and lawfully. 

Fort Lauderdale has higher purchase prices and nightly rates, but Pompano has had an influx of investment and continues to improve, specifically by the beach. 

The trials you face—long nights, tough negotiations, setbacks—will all be worth it for the wealth and freedom you can create.

My piece of advice would be to make sure you have a great agent in your corner to help you assess the market, make informed decisions, etc. having a good agent can be day & nights difference when it comes to your experience.

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

Not sexy but I sleep like a baby every night and cash those checks on the 1st of every month!!

Proper underwriting - this includes an appraisal, loan app and full underwriting to comply with CFPB regulations.2.

However, I am unsure on how to go about finding the proper handyman/maintenance guy/management team to help run any out-of-state investments I make.

If this is your first deal, it's probably best to get a lawyer to make sure you're doing everything properly.