Are you looking into certain investment strategies to begin or certain markets? 

Quote from @Makani Donaldson: Even when the market was great for investors (2012 - 2020), most investors would say good cash flow was $200+ per unit, per month.

Very solid market, been investing there over 10 yrs and the rents continue to climb! 

My method has always been to call every listing that hit 90 days on market in areas that I want to buy.

I also pressure washed the exterior of the units and raised rents to market rent.

Insurance market across the country is very tough, especially for older product. 

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

"Flipping" or "Rehabbing" this property would really consist of raising the rents to current market levels (about 40% increase). 

Whether you’re looking at SFHs, duplexes, or other properties, it’s important to pair on-paper data with boots-on-the-ground knowledge to really get a sense of values.If you’re considering anything serious in Detroit, I’d recommend connecting with someone who knows the market inside and out.

I would recommend starting in your backyard and hone your skills if its possible, I know some markets have an extreme HCOL which may make it unfavorable in your case.