Purchased a house at trustee sale.

It was purchased as a rental and been sitting for 5 years.

Market value is what a willing buyer will pay a willing seller for the property evidenced by the Purchase & Sale Agreement.To be fair, you didn't say any of those things, so this isn't meant to challenge you. 

Detroit has more to offer though:)Overall, your approach should be strategic and you should be targeting a specific Property Class (A, B, C, D).If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Makes me wonder if someone has a great pre-purchase checklist they use for their due-diligence, at least on SFH purchases?

This covers the purchase price of the property, any required down payment, the cost of the renovations, and any other costs like holding and closing fees.

I was able to purchase the property through a commercial loan, as residential financing is not supported by through commercial zoning.

Hello all,I have a 2 unit multi family in Chicago that I purchased around in 2019 with an FHA 3.5% down at $420k as a primary residence during the time I lived in Chicago.

The purchase prices are cheaper, the supply/demand ratios are much more favorable, the cash flow is higher and more reliable and you can take advantage of the massive growth Atlanta is expected to see in the coming years and decades. 

I am beginning by real estate journey with purchasing my first multi-family home to rent out to section 8.