Also, for people who wish to pursue larger real estate ventures, you don't personally need to be able to analyze a deal, and can possibly partner with someone who does or even hire an underwriter.

Some banks and lenders will cut you off at 6-7 even if your DTI is below the normal percentage.

One question that I'm pondering is, even with the positive growth, how do I determine rental demand in the area?

,Renting your primary home back to yourself isn’t typically allowed by the IRS for tax purposes, even if structured through an LLC.

On top of that, the rent-to-price ratios in Detroit often outperform other markets, which can mean solid cash flow alongside appreciation potential as the city continues to grow.The key with Detroit is understanding the nuances of the market—it has a large footprint, and neighborhoods can vary drastically, even block by block.

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

it looks like there's a lot of development and even thought prices are a bit higher than other areas, but it seems that it's just got started. 

From my understanding, no one is employed, they are somehow current with the rent, but they are definitely not someone I would offer a new lease...not even at market rate.  

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.