@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

My vision is for this meetup to be informal and organic.

Prior to my experience with Safeguard Capital Partners, I was a buyer of distressed multi-family properties in my immediate neighborhood in St.

I could tell you to invest in Milwaukee, you can still find cash flow positive duplexes here in good neighborhoods around 350k and we have had very consistent 8% appreciation over the last years.

When you say you want to prioritize cash flow over equity, you want to watch out for people honing in on that and selling you "good cash flow" deals which will be in D neighborhoods and will come with high capital expenditures and harder tenancies.

I would say that the value he brings is finding the deals, doing an initial diligence, having a local team set up for renovations/repairs/property management as well as knowledge of the neighborhood.

Yup, property condition, vintage, neighborhood, tenant base, property management are all very important considerations. 

Congrats on your lot purchase in an awesome Chicago neighborhood like Humboldt Park.

Am I correct that a condo, depending on area and neighborhood, could be a lower risk/maintenance investment for an absentee landlord as opposed to other properties?

I have over 20 people in my organization who have experienced gators as lenders or have loaned money through the gator thing.