So you're beliefs and experience can get in the way either way.From a strategic point find ways to maximize your strengths-professionalism, confidence etc while minimizing your (perceived) weaknesses-inexperience.

However I have always assumed that the Detroit market will come roaring back someday (soon or in a decade or two, not sure) and I'm jealous of those who know the market well and can invest strategically.

Every part of REI involves some sort of analysis which is than followed by a strategic decision.  

Consult with your CPA to strategize if you're considering this option.

You can save $75/month by self managing or you can invest in that knowledge.Note to self: Once you have established relationship with high performing agent and have lending options in place, consult with PM for specifically strategic neighborhoods.

I suppose my question should be refined as 1) In general (yes, I know and have read how location is everything in RE but IF there are any overarching trends), is it a strategic or common practice to buy properties right outside gentrification efforts (based on the assumption that revitalization will spread and prices will later rise)?

Which is why a lot of successful investors will tell you that Rich Dad got them started, but it was their own hard work and strategic initiative that made them successful.

This allows us to operate with strategic unity and group residents demographically, as well as where they are in their recovery journeys.  

If you wanted to be a part of the raise for my fund, we are certainly looking for strategic partners to help raise capital.

I'm not saying that is going to happen to you, but use history as an opportunity to think strategically about your future.I received my degree in Business / Finance and I have absolutely no regrets.