Then I go through the exercise of at what price can I buy this house to make it a good deal?

From there, I would either start small by yourself (2 to 4 units) or find a partner with experience in larger multifamily, bring capital, and have some other active role in the partnership.

But your partner will need to have an active role in the project for it to qualify as a JV.50/50 sounds realistic based on your strategy.

so that's 7500 + 2k + 7K refurb + 4k mort + 1500  so that's about 20 to 25k to exit a 150 house.and if you don't 1031 you will have recapture so for this exercise lets say you have 5k in recapture.. 

I love the abundant roles of these summits.

I will be moving to Detroit, Michigan this summer to start work in a controllership role at a large US automaker and I plan on making my first real estate investing move as I relocate to Detroit.I am looking to purchase a duplex/triplex/fourplex within Wayne County outside of Detroit's "warzones" and house-hack my first property.

Your current status is you can freely go about your role as an commercial broker without worrying about monthly overhead and clerical/admin functions.  

They have assured me they would not exercise the due on sale clause.

This option gives the lessee the right to buy it outright in the future if you want to, though for estate reasons, you may not want to exercise it.

From a trend perspective it looks like a trailing end of a Sellers Market, but while that is a trend every single property has its own story and there are deals to be had.The idea as a textbook exercise is sound - but will succeed or fail depending on the tenant and success you have with the renovation.1.