Examine yourself and see what you could do.You may have to move past the "what do I want to do" and look at the "what will someone pay me to do."

If you are not from Detroit or have not been to Detroit and examined the areas you are looking to buy, i suggest you visit before buying anything.

I figured I should start practicing now, trying to learn to see property the way an investor should, being able to ask the realtor/owner the proper questions, and just to calm my nerves so that when I'm on the hunt for real I'm not so nervous. 

Most of the time there is no cause for conflict of course, and any time that there is a rental issue that ends up in court the landlord should re-examine their screening and operating procedures to see how future problems can be avoided.  

Research those areas and examine the comps of the properties paid with cash3.

Upon searching online to find the property taxes to plug into BP Buy&Hold Calc, I found this:Sale Price Date OR Number Type Description Vacant/Improved202,000.00 07/16/2004 4388/400 08 Sales disqualified as a result of examination of the deed Disqualified (Doc Stamps Greater than .70/SP Gr. than $100) I100.00 10/15/2003 4283/428 04 Sales disqualified as a result of examination of the deed Disqualified (Multiple STRAP # - 01,03,04,07) V65,000.00 10/01/1996 2764/631 03 Sales disqualified as a result of examination of the deed Disqualified (Interest Sales / Court Docs / Government) I93,500.00 11/01/1993 2454/318 03 Sales disqualified as a result of examination of the deed Disqualified (Interest Sales / Court Docs / Government)Should we run way from this one?

This would be my first deal, so it is a little nerve wracking to pull the trigger.

When your cash flow for a year is wiped away because of tenant damage it will cause you to have to re-examine your model so that you can try to steer away from making those types of mistakes in the future. 

If you examine your agreement and title policy, there's likely a clause that addresses how 'claims by others' is handled.

The one thing is if their filters are not cleaned when they should be the cost to clean when disassembly is needed is high so make sure they are examined annually.