I believe you mis-understand the process.

As a CFA you probably know the old quote from Warren Buffett who said something like "buy what you know and understand". 

.- Understand what you value . . . do you want to have a phone call from the PM every Friday? 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Local market knowledge is absolutely critical, and it helps to work with someone who really understands the landscape and its nuances.As others have mentioned, it’s a broad question that’s tough to answer succinctly, but I hope this provides some clarity!

@Shakthi Kamal read copy and paste advice below.For cashflow, you'll be looking at mostly Class C properties/tenants.Be SURE you UNDERSTAND what this means or your expectations won't match reality!

I understand you don't need a lot of space, but you are paying someone else's mortgage.I would start with a fixer-upper investment, up to four units.

Price-to-rent ratios are solid, and there’s still room for appreciation in the right areas.The key is understanding the nuances of the city—it’s not a market where you can just buy blind and expect good results.

Check with the lender but my understanding is they will count that potential income as well.

It’s hit and miss, really need to deeply understand what they offer, if they will work for you or against you, whether they sign the lease or you (I prefer me, to reduce that lock jn).