Climate control NRSF is typically between 2-5 fpp; while the non climate control old outdated facilities make up the balance (7-10 fpp) and tip the scales well beyond the 7’ pp rule of thumb. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Outside of the typical challenges for out of state investing, what are some of the pitfalls that may be unique to investing in Detroit?

What was your other option - self-managing it?

The S.O.T.A program works well, and is a good option to get a tough to rent vacancy filled if you invest in a low income area.The process of getting the deal done with them is pretty simple but pack your patience though if you get a bad case worker, you'll need it.

I am unaware of any state that does not allow you to collect advanced rent, but I am not an expert in all states.But you are typically required to deposit that advance rent in an escrow-type account. 

I can't speak to options available to you but one thing came to mind when reading through your post ... 

Lastly, when i try and call them to speak to my property manager 99% of the time I wind up having to submit a note in their portal and wait for a call back.As to to the new garage door that will be installed by the tenant, I wish they would be more involved, giving the tenant some options of companies to call, and to walk them through the repair process.Am i wrong in any of these thoughts or concerns about my current PM---or---do i need to let the property manager do their thing and learn to take a step back?

this would never work for Abnb   Anytime I have booked an airbnb this has been an option on some of them

Is there typically a credit built in that gets applied to the payment during purchase?