Set to be completed in the Summer of 2017.The Following Info is according to the information from the Developer:Purchase InfoInitial Market Price: $700,000Purchase Price: $649,900Initial Cash Invested: $187,475Income AnalysisNet Operating Income Annually: $52,484Cash Flow Annually: 22,847Financial MetricsCap Rate (Purchase Price): 8.1%Cash on Cash Return (year 1): 12.2%Internal Rate of Return (year 10): 19.6%Sale Price (Year 10): $896,059Rental Income is forecast to be $1,400 per unitUnits are 3bed, 2 bath and a garageUnits are 1,600 SqftI feel that the seller is optimistic on some of the numbers so in my calculations I have increased expenses (CapEx budget, management Fee at 8%, Insurance, Utilities) and I have also increased the vacancy rate from 3 to 5.2%. 

No liquidity—A few sites are building out secondary trading platforms, but I’m not optimistic that you will see a lot of trading of interests on them.

also i think you may be a bit optimistic in the arv .  

I'm not optimistic about re-training them.

Our aim is to find something that would monthly cost us less than our current rent (1490$) including P&I, taxes, insurrance, PMI, HOA.We start to realize that we might have been too optimistic.

I think trying to sell for even 50k would be optimistic.  

I like to think opportunity is everywhere and you just have to find it.Thanks for sharing Matt,I'm still waiting for a good candidate to show me the outskirts of Detroit.Although a long way away from any recovery IMO, I'm an optimist and would love to expand our business into Michigan within the next years...Any volunteers?

I wonder if your cash flow estimation is perhaps overly optimistic. 

If not, it wouldn't hurt to mail something to that address and it will be forwarded to whomever is affiliated with the property.You're really optimistic with that last part of your statement. :) I find it usually gets forwarded back to me.

I will have small money to start with and have limited cash flow until I can get a few properties acquired.Right now my area is blue collar, but is gentrifying, so I foresee better rents and better tenants later, but I may have to deal with lower end renters or students until then.I'm an optimist and I believe in my ability to do this, but I want to go in with my eyes open.