If you can or do trust your PM company then speed can increase and costs decrease over time. 

What is your Annual Rental Rate Increase look like?

I'll focus on maintaining the property and optimizing rent increases to ensure consistent returns over the years.

Property values have been appreciating rapidly in recent years, and the city’s population has started growing again—a trend we haven’t seen in decades.I’m also based in California and have been investing in Detroit for several years, so I understand the concerns of out-of-state investing.

Your returns could be increased if you are willing to rent it by the room to individual students. 

After you've completed some updates & have reviews start to increase your rate.Feel free to reach out anytime if you have questions :)

You can earn strong appreciation but also lose a lot as the entire state becomes increasingly hostile to landlords.

This may be an opportunity to remove the tenant, refresh the rental, and increase rent significantly with a new tenant you've selected and trained.4.

I recognize this is not the sole source of return, but the other sources have their return increase with smaller equity position. 

High ceiling looks great but increases your utility bill.