If you're planning to invest less than $400-500k USD, the properties you could find within that budget will not stand out in the market, and you'll face high competition in the STR (Short-Term Rental) market.

Although the broker is claiming it is under-rent and a pro-forma NOI can be as high as $52,883.

Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

Property values in Little Italy are really high right now, and they're definitely trying to build up the surrounding neighborhoods near University Circle. 

I don't think you can go wrong if you have the liquidity and the market is strong. don't forget that hotels are built in the middle of nowhere brand new and do fine. if you want me to look more closely at it send me a DM, this is ours right here that we proposed so you can see the style but it's 81 residential units, 45000 sq ft, 6000 sq ft of retail, no parking. on your assumptions, your occupancy rate looks high. pull some hospitality reports in the market and see what it is. your exit cap looks about right for what I've seen in hospitality.

Also the property transfer tax is quite high, it can add up to around 13% and normally has to be paid in cash.

Althought rents are high, there is a concern that rent increases are not going to keep pace with the increasing expenses that landlords are facing.

My property taxes are high - around 9k a year.I’ve been out of touch with the market this year dealing with an illness and I’m trying to make the best decision cause this is my lifetime investment and extra income.

Although mine does populate a trial balance and balance sheet automatically also.

I have seen a few solid, high cash flow LTRs in Houston's sister cities.