@Jay HinrichsI try to avoid historic districts at all costs.

Only text if they’ve opted in.Don’t Overdo It: Keep it respectful don’t flood them with texts.Follow the Law: Make sure you're following the TCPA and any local rules to avoid fines.Basically, get their okay first and always make it easy for them to stop hearing from you!

I currently operate a few STRs so have a good understanding of that aspect although they're all located in touristy locations.

That said, Detroit is very much a block-by-block city, so local knowledge is critical to avoid issues.If you’re serious about learning more, feel free to send me a DM.

(I am avoiding phone numbers and websites so this response doesn't get redacted)Good luck, Janet

I assume you would have to pay cash, because you have to spend all cash received to avoid taxes.

A lot of problems that arise during permitting and planning can be avoided by being proactive.Build relationships with sub contractors.

Others were much more diligent in this aspect and required Letters from your CPA ( which is how my few syndicated investments went).

You can oversee this aspect from the background but don't try to directly engage a GC from out of State without having someone tied to your success there to watch what's going on.

Quote from @Nate Sanow: Yes I own two that are near 100 years old and I will tell you they are a pain in the you know what compared to all of my post WW2 properties especially post 1980… layouts are better in the last 50 years and energy efficiency is better and I can keep going… HOWEVER to reply to the other aspect of your question, I’ve found appreciation is better with older properties in areas of the path of progress.