It was in fairly good condition, and I KNEW I could easily lease it out, or lease sections to various business, or sell it for double or triple what I paid. 3 years later, having not even received an offer to lease AT ANY PRICE, I sold it for $25,000 LESS than I had paid.

I invest in Detroit as well, and it's a city full of opportunities if you take the time to understand it.A couple of quick tips: Get familiar with the neighborhoods—Detroit is very block-by-block, and the difference in property conditions or tenant quality can be drastic just a few streets apart.

So are there reports that I can ask which can tell me the financial health of the company?

ya its not like moving to a 3rd world country plus you can get health insurance once you have your Golden visa for a very nominal amount according to my friend that has a Golden Visa. the 500k has to be in cash though I believe.. they bought a unit in Porto and one just north of Lisbon. sure beats Mexico I can tell you that..

Quote from @Corey Gelineau: The inspection contingency is used to legally back out of a contract due to the property being in an unacceptable condition upon inspecting the property.

My belief is purchaser had more info on inside condition than I had or was buying to OO.  

Is the condition of the property good? 

It's hard to say if a 60k house is worth 40k or 80k, that's within the margin of error based on how much do you consider condition in your valuation.The % based agent commission model does not make any sense below 100k.

But you have your health and your family....you can replace everything else.

I've been investing on the area for years and I haven't seen that kind of conditions anywhere else.