They want comps that are not SEC 8, within 5 miles of the property (the closer the better), same city, similar age and size, same style (single family, vs something with shared walls).

If you don't see what you want there, head southeast to Nashville, Memphis, etc.I don't think Detroit is the place for a beginner out of state investor. $15k houses are $15k for a reason.You should keep reading, start tracking the market, and start making some industry contracts.Go to some real estate investor clubs.

My SFH would be within .3 miles from this development.

@John Graves my company focuses on 150 unit+ value add multifamily opportunities across the southeast US built between 1980-2010 with a purchase price greater than $15M.

I'm just trying to see if there anybody that used hard money, and then refinanced in less than 6 months before I start calling every bank in a 50 mile square radius for no reason...

My wife & I own 33 acres 4 miles outside of Brownwood Tx.

But there is a possibility that you could have one here and one in the location that’s over 100 miles away.

We are in Washington State also, Whidbey Island (90 miles from Seattle) and the local hotels are trying to close down short term there also.

Once again though global and US economics heavily influence this area, since a lot of people who live are commuting vast distances (40-60) miles for work.

. : 1,008 - 1,010Unit Amenities Balcony Refrigerator Washer/Dryer Oven Heating Range Kitchen Tub/Shower Site Amenities Clubhouse Community-Wide WiFi Fitness Center Public Transportation Media Center/Movie Theatre Financial Summary (Pro forma - 2018)Gross Rental Income      Annual     Annual Per SF                                       $1,294,718        16.81Effective Gross Income   $1,294,718   16.81Avg Household income 43%: $100k+15%:  $75k-$100k28%: $35k - $75k14%: 0k - $35k Total Population 1 Mile: 4,029 3 Miles: 29,950 5 Miles: 69,572 The Property:  Price $13,000,000No.