You can visit the property, contractors, etc where as Detroit will either involve longer travel or trusting someone on the ground when you arent physically there.

If you go this route, consider hiring a trusted property manager local to the area who knows the market well.I have personally owned and managed a multifamily property in Illinois and after selling it I said I would never invest in that state again.

Look how many died in the Great Recession which was nothing as severe.On the other hand, the debt-free ones will be in a much stronger and better position to survive (because they have no debt payments to make).  

See what down payment and reserves you need and make sure you have that in place or if not, you know what your goals are for 2025.

Any other expenses are using up funds that would otherwise be sitting in your checking account to make a mortgage payment with.

. -- Thus, you can expect to get Class C or D tenants, which have a 15-25% probability of defaulting on their lease payments.2) If your PMC is lowering FICO to 550, what are they doing to improve their screening in other areas?

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

I texted her the rent amount on Tuesday afternoon (per her request) & the various ways to pay it - she said she would "get with me on the payment". 

Here’s a chart showing what percentage of an American’s average mortgage payment goes to taxes and insurance:Rising taxes and insurance premiums make real estate even less affordable for buyers already facing higher home prices and mortgage rates that rose ~150% in less than two years.

Especially if you have a local handyman you can trust to take care of the property.