Do you have control on the management group/rent price? 

Have a bit more control of my time. 

Condo's are ill advised for investments because you possess far less control.

Placing your own tenant takes longer (usually 3-4 months with inspections), but it gives you full control over who lives in your property, which is a huge plus in my book.

I think it would be a good experience for me to get landlord experience in a mostly controlled environment aka I live there. 

We can remotely control the temperature, but if someone (a guest) manually changes the thermostat, it overrides our remote settings, which is what we want.   

If you represent yourself, you have an amateur that is emotionally tied to the deal.

Here’s what I recommend:Cash Investments:No Debt, No Stress: With cash, you avoid third-party control and loan vetting, giving you full control of returns.Equity Builders: Partnering with builders often reduces your property entry cost by up to 20% below market value.Consistent 10% Returns: With an all-cash approach, achieving 10% ROI is realistic and efficient.Financing Strategy:If cash isn’t feasible, consider a balanced financing model:40-50% Down Payment: Keep leverage manageable while maximizing returns.Lower Debt Exposure: A conservative loan-to-value ratio (LTV) reduces risks and keeps returns stable.Work with a Builder: Collaboration with builders can lower acquisition costs and increase your ROI.Key Takeaways:If possible, prioritize cash for simplicity, control, and consistent returns.Financing can work well with a disciplined approach to debt and a strong underwriting process.Partnering with builders offers opportunities to reduce costs and enhance your portfolio’s profitability. 

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

You can make more money if you have full control, but your time needs to be considered.