.- Properly / thoroughly screen the tenants, which increases the likelihood of a bad tenant and damagesNow, it can be done, but if you aren't even sure of what the industry costs are for PM services, I highly doubt you are currently skilled enough in the area to risk doing it.

- Are there certain areas you would stay away from and why (eg, high crime, bad schools, poor quality builds, etc)?

Although the broker is claiming it is under-rent and a pro-forma NOI can be as high as $52,883.

If you're planning to invest less than $400-500k USD, the properties you could find within that budget will not stand out in the market, and you'll face high competition in the STR (Short-Term Rental) market.

Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

Property values in Little Italy are really high right now, and they're definitely trying to build up the surrounding neighborhoods near University Circle. 

I don't think you can go wrong if you have the liquidity and the market is strong. don't forget that hotels are built in the middle of nowhere brand new and do fine. if you want me to look more closely at it send me a DM, this is ours right here that we proposed so you can see the style but it's 81 residential units, 45000 sq ft, 6000 sq ft of retail, no parking. on your assumptions, your occupancy rate looks high. pull some hospitality reports in the market and see what it is. your exit cap looks about right for what I've seen in hospitality.

This will continue to push up the prices.Sales - Months of SupplySales - Median $/SF by MonthDespite persistently high interest rates, the $/SF continued to climb, up 10% Year over Year.Why invest in Las Vegas?

Althought rents are high, there is a concern that rent increases are not going to keep pace with the increasing expenses that landlords are facing.

Looking at the homes on the market, prices vary wildly from $~200-$400+/sqft and it doesn't seem to correspond to just the quality of the house.