FWIW I'm more in your situation with full time job etc so I started with rentals to build up my reserves for larger deals.  

If it's a subscription service what is the pricing?

I would avoid the City of Detroit as many banks will not finance homes due to the lack of reliable public and utility services. 

You really need the services of an attorney on something like this.

@Michael Swope I'd be happy to service as your boots on the ground or hook you up with some top notch property management. 

Septic systems can be fine, but you will have to have it serviced every couple of years.

They partner with Smart Property Systems which provides full service property management software with double entry accounting.  

CapEx would go ideally below the line (so after your Net Operating Income), but you could account in the expenses a repair and maintenance reserve so yeah would agree to have something in there. 

I was wondering if any agents out there would like to share any tips or best practices that help out with day to day operations (such as CRM software, fax or call services, listing management tools, how to start lead generation).

His management company services a large portion of the properties there and you will inevitably find someone who can connect you.