.$100k for a 2/2 is high for the City of Detroit, unless at least Class B.So, you should take time to understand the NEIGHBORHOODS in the City of Detroit.You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider: https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorseContact us with any other questions:)

Hi ,I personally own a condo-tel in florida , I have to say they are all different and you will have to get deep in the condo docs.It may be profitable or not .

My market is slowing down.Would you mention this saying something to the effect of "I understand you are exploring other options.

Also, don’t hesitate to dive deep into the numbers on each property.

They typically don’t go above 50% ltv and usually pay cash for the properties.The only people who would do this is private individuals with deep pockets.

Remember you pay the HOA fees even when it is empty...so when market is slow and it takes 2-3 months to rent, not only are you paying your mortgage, but also 300-$1000/month HOA fees.   

And they are actually slowing losing market share, at least in my market.People always try to offer a product and service for less, you are not the first one with this idea.

I am having a hard time finding information about this topic and wondering if it’s worth the deep search.

yes how much money do you have anyone that knows it is making a lot of money you are only going to slow them down. get the wallet out and pay for advisory services.

One of the reasons I asked the question is that it seems strange to me that a property management wouldn’t take anything upfront if they inherited a house that wasn’t ready for rent .Our property management also does the cleaning ( deep clean over 4 days was $1000 but they had to deal with some nasty pet hair , fleas etc)and that included some cover up paint etc .One lesson learned here is every contract with owner : property management varied greatly it seems from what is needed .But moving forward - I feel that $500 a month on a $2100 a month property is too high once it’s rented - unless endless problems persist of course ..thanks for your insight!