Welcome to BP - you've definitely come to the right place - I'd recommend some of the books in the BP bookstore for next steps - particularly the BRRRR Method book by David Greene which is great and might be perfect for your situation

I am not sure if I am just over thinking it and want it all to be perfect now, to avoid issues in the future.

Just like anything in life.Once you have made the decision, this is what you want to do.You need to have tunnel vision on your goal.If your saving up for a down payment, work an extra job, side hustle, reduce expenses, whatever.Finding cash flowing properties is not hard to come by, your first property does not need to be perfect or give you the absolute best return; you need to acquire it as soon as possible to start the compounding effect.Hope that helps :) Lets get to work

This is perfect a healthy window to shoot for. 

Neighborhoods like Morningside, East English Village, and Bagley are great examples of areas where properties have appreciated, and there are still a lot of up-and-coming pockets where there’s growth potential.Detroit isn't perfect, of course, and it has its challenges, but I've found it to be a great market to build a rental portfolio that balances cash flow with appreciation.

Plus, she didn’t have to deal with business hours.. if something came up at midnight, she could take care of it.That said, there’s no perfect answer.

By the time that's done, you'll know enough to start investing in distant lands.Education is important, but you will never have all the answers, perfect formulas, or whatever it is you think you need. 30 years ago, people made money in real estate without any ROI calculations, hard money lenders, BP forums, podcasts, coaching courses, etc.

Don't wait for the perfect deal to come up, the most important thing is to get started.

This is the perfect example.We have been using the leses and other froms from WLB for over a decade and I have seen them getting updated over the years, so I somtimes throw out a package of forms and order new ones to be up to date, but they are so inexpensive, its a no brainer.WLB has a store downtown Milwaukee worth visiting: they have all sorts of landlord supplies you did not even know you needed from print all the way to parking signs and traffic cones.

I think Chris nailed it perfectly - you have to take your DD to another level and also be in a position, both financially and contractually, to take control of the situation if the borrower defaults.