The home is 1360 sqft 3/2 with a bonus room in River Oaks.

In three deckers, the most notorious/expensive areas are as follows:-Exterior (if it's painted and chipping, no good. if it's vinyl, you're golden)-Back Hallways (these are the lead havens in three deckers. $5000-$8000 all-in for full three decker de-leading on all three back porches.)

My wife and I want to rent a house in Royal Oak when we first get there, but I have come to find this is nearly impossible.

ScottThere are lots of small MF in SE Michigan, many dozens in Royal Oak alone. 

By improving the property, your cash flow will increase and you will chip away at your cash flow goals.What markets did you have in mind?

So if a property looks weak and has old wood windows with chipping paint.

We used to live in the Oaks private community in Lake Forest when I worked for Toshiba as a Systems Engineer years ago.

There is an oak tree whose limbs are encroaching on the rook of one of the three buildings.

We painted the entire thing, tore out the carpet, refinished the beautiful pine/oak floors underneath (These floors turned out GREAT, they are by far my favorite floors I've ever redone), painting the cabinets, adding new flooring in bathroom and kitchen, subway tile surround, new lighting, new garage roof and staging.All in all I am happy with the way it turned out.

A giant oak tree fell on the neighbors house totally destroyed it.