Quote from @Evan Polaski: @Carlos Ptriawan, you are talking about syndicators and passive investing with very broad brush strokes, but then comparing to your unique direct investing experiences.  

If you're comfortable taking on more effort for bigger rewards, BRRRR might be the way to go.From a tax perspective, BRRRR may be better because you can potentially benefit from accelerated depreciation on the property, which can help reduce your taxable income and give you a bigger tax advantage compared to a turnkey property.

.$100k for a 2/2 is high for the City of Detroit, unless at least Class B.So, you should take time to understand the NEIGHBORHOODS in the City of Detroit.You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider: https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorseContact us with any other questions:)

And of course, what metric do 99% of people compare themselves to...the illusion we see on social media where "it's easy to find yourself some off-market deals".

Also, try to find similar rental units in the same neighborhood to compare to so you have more of a rent range/conservative approach. 

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

Compared to a mortgage broker that adds on so many fees for the same loan.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

No matter the market run your numbers and make sure it makes sense for that local area compared to what you can expect.

I am clueless when it comes to the economic development board, but I do know that Waco in general is extremely business friendly and has very little regulations compared to other Texas cities.