I'm curious as to what the best strategies are for identifying potential properties, how to approach the homeowners (letter, door to door, a written offer, etc) and how to write a fair and solid price (I'm thinking full price offer based on comps minus 6% because of no commission but throwing in some cash or creditiing closing costs to the seller to sweeten the deal a little bit. 

Use these venues to ask questions about what you’re learning.Narrow your focus - If you plan to invest identify where you would like to start.

You hadn't disclosed your intent for the property, but for resale or rental, it would be good to just look at the quality of similar properties, then try to match or slightly go a step up, in order to increase your ROI.Once you've identified what it is you really value currently, it's best to get 3 estimates and see if you're getting the same values for each. 

A local bank is hard to beat, but you have to develop a relationship. 

Last developer I worked with who was all in for $2 mill (paying our assignment fee), paying the purchase price, cost to develop, holding costs, etc, netted $1mill. 50% return on their money.)

Could anyone give me some tips about how to input the PMI in the expense side of the things on this online tool to better identify if this is the right deal for me?  

It claims to be able to identify prime areas for your needs, and show cash on cash returns for both airbnb and traditional. 

I have only taken Scott’s so I cannot comment on others but his training has been instrumental in my development where I have bought 60+ notes in past 18 months a good real estate calculator will have a PV function.. that is the heart of the matter in note investing.. just learn how to do that one function first off.. 

Im starting a meetup, opening an office and studio, and will be buying multifamily and development projects locally and in surrounding areas and Im looking to network with all kinds of people that are on similar paths. 

I would suggest that if someone wants to enter Detroit market take at your own risk two trips: flight/car/meals/hotels to know the city, its people, the neighborhoods and develop local connections!