Make sure you can handle the complexity and scope at your price point.Talk to some neighbors about area rents to double check.  

If they have your information and criteria at hand, they can handle that as a pocket listing, which means they get the entire commission.The other tricks you can get all over BP.  

Depending on whether the existing roof is being removed, the handling of that debris is something to keep a watch over.

My experience is in accrual based accounting, so I'm struggling with how to handle the property taxes on a cash basis.

Hi all,What is the best way (if any) to handle updates to a tenant's property condition documents after they have already moved in?

Your next best bet to find something cheap is the North End which is about 3 Miles North of Downtown, but off Woodward and Oakland Aves, or maybe the east Jefferson Area.Also, if your Spanish is pretty solid, and can handle dealing with people without a verifiable job, or immigration papers, SW Detroit, in Mexican Village could be an option.In all these places I mentioned you better be ready to dig in hard on a renovation, and take control of the property.

I work with several "partners" and each is handled a different way. 

Expected vacancy 15%-20%  Mortgage is a 15 year loan at 3.75%.Expect $5000-$10000 in repairs.Property Management handled by myself.

It is incredibly difficult to get good renters for a house of this size ... because the rent is high(er) and the utility bills are hard to handle.  

Granted I don't have the full picture, but this deal would make me very nervous.I'd do some due diligence and try to get a much firmer handle on your build cost If I were you.