A vacant single family teaches you processes: buying an investment property, assessing and performing whatever fixup needs to be done, marketing to get it rented, collecting applications, the legalities of your state's tenant/landlord laws.It's true that when it's vacant, it's 100% vacant, but as you learn how to be a landlord, it won't be vacant often and then it's 100% occupied.

How to mitigate the risk of them up and leaving is to collect larger security deposits or have them pay a couple months rent.

So, in essence, 10% of collected rents go to me for finding and managing the entire deal; 10% go to reserve account for capex/expenses, and 80% of collected rents (less PITI and expenses of course) are split 50/50 amongst the partners.

You could contact county offices that make past due property tax properties and contact the existing owners that might be involved in a tax due auction sale and contact the current homeowners and see if they are interested in selling their homes and keep them current with property tax collection firm.Good luck to you!

We are coming down next week to look at some projects in Philadelphia from Monday to Wednesday but we will be driving by Cleveland after that.Or you yourself or do you know of any entrepreneurs, active developers, or people who do have extensive knowledge of the Cleveland real estate market for investing? 

That is reasonable to ask for a 2 day extension.

When a situation like this arises I try to make the best of it and find ways to exact my revenge.If she is S8 you hope for the best since there is absolutely no way to collect for any damages.

Ive informed them I would be renovating the apartment extensively.

Thank you for chiming in as I'm collecting as much knowledge and thoughts as I can on the Detroit market.  

You need to do extensive due diligence to make sure the turn key company is legitimate and a good business decision.