They are a commodity, and owners are competing directly against hotels in this space, so rents are ultra low.

Conversely, a new built A class SFR, in A class market of significant growth via a well laid out planned city development, great schools, area people are glamouring to move to, a-class tenants, very very low risk.

If he must attempt to get the low interest rates of 2021 on this deal, I suggest that he instead look for assumable loans.

If you intend on putting in 50 low ball offers a month, make sure your Realtor knows and is ok with that amount of legwork (because it's a lot).

Buy quality properties in strong submarkets, finance with low leverage, bulk up on cash reserves, diversify geographically, and you'll be positioned to survive whatever the economy throws at you.

I would look for a low interest line of credit to put on the property and lend at a higher interest rate.

There is no stock account that gives the leverage real estate does, at as low interest rate real estate does, at as low risk/ volatility real estate does. 

A full gut and roof HVAC windows etc for 100k seems very low.

The potential rents should more than offset an increase in property taxes but something to consider particularly if you have a low basis on your property. 

Detroit offers solid cash flow potential, a relatively low barrier to entry, and the market fundamentals are improving with a growing population and significant investments in the city.Since you’re based in upstate NY, Detroit is also a quick and easy flight, making it easier to visit and get a feel for the market if you’re considering out-of-state investing.