The resources and books you mentioned, like the BiggerPockets Ultimate Beginners Guide and The Book On Rental Property Investing, sound like excellent starting points.Prioritizing financial stability and eliminating debt is crucial, and I agree that a solid financial foundation is key to successful investing.

It’s a solid way to build wealth over time.Good luck!

That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

While I had a solid team, the payroll was a big cost and I couldn’t survive for many months without bringing in revenue.

@Tove FoxInvesting out-of-state can be a great way to tap into affordable markets with strong rental demand and solid returns.

I’m here to learn as much as I can, meet like-minded people, and get advice on making a solid first deal.

There is also a solid chance that when you act decisively as a business owner that the 'bank of mom and dad' might just kick-in and settle all. 

@Todd Nguyen - while I'm biased, I think we have a solid product in California with good pricing and coverage, and it's still fairly available across the state (unlike the other carriers that are unfortunately leaving).

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

A solid property management team (or maybe multiple PMs if your portfolio is large enough) is a must for out of state investing.