So, if you find cash stuffed in an old drain pipe or in the attic or hidden under a floor board, you can reduce your cost of acquiring that property the same day as closing and find "Equity". :)  

Its the perfect balance of downtown, the cool vibe of Belltown, easy distance to the market/blocks from the waterfront, and you could watch the NYE fireworks from the roof... if the roof were safe to walk on.

Being a local guy, I can say the south side and south suburbs of Chicago need to be approached with caution...these areas change block by block.....Just do your due diligence.Brian

I hope you're enjoying the site and good luck on your ventures.It's nice to have a foot in the door and someone to ask for advice right off the starting block.

@Zamir Kazi You may want to also look into Cozy.co   They're the new guys on the block and they are backed by Google.

Hitting a lot of road blocks living in CA and investing in other statesLocal banks are hit and miss but nervous about of of town investors and larger regional banks are too big for some of the smaller 2-10 units.

I hit a firm road block.  

I have seen previous post of you seeking opportunities here, but I am afraid you may be getting misguided with some information from someone wholesaling you on properties for a quick buck.Again there are alot of factors to take in when you invest in Detroit, rather a good neighborhood or not, it may be a block by block case.

the long term debt on rentals seems to be a major stumbling block for investors starting out.  

This worries me because it seems that the property could be sinking.On the other hand the house is very cheap and the other properties on the same block are valued at 130-150k.