@Rene Hosman, I'm firmly in the online platform camp for preference.

One of our firm's areas of focus here in Detroit is scalability and repeatability for our clients. 

You definitely would want to read through the county laws again.If you don't want the extra load up front, best to wait until you get the license.

Based on IRS Private Letter Rulings (PLR 200805012 and PLR 200901020), development rights can qualify as like-kind property for a 1031 exchange if they are considered interests in real estate under state law.

The tenant laws are also not on our side. 

To thrive in real estate investing, you must maintain a firm grip on your finances.

There are plenty of firms which were never dishonestly managed, no need to only look at rosy projections, which may not be backed up in long run and not at management past. 

Many municipalities allow appeals, and the savings can be substantial if successful.Pro Tip: Work with a tax advisor or attorney familiar with local property tax laws to improve your chances of winning an appeal.2.

@James Wise MICHIGAN UPDATE: new law went into effect January 2, that landlords can no longer discriminate on tenant income source.

Build up your portfolio with a professional landlord and then as your portfolio grows transfer the assets over to a larger PM firm for ongoing accounting and management.