I ideally would like to BRRR the properties once I do get one under contract as that seems the most sensible option for myself and the the Detroit market.With that I have struggled to predict ARV as I am not local so do know going rates for material or labor and also have to factor in the conversion from CAD to USD.

Quick tip: Using your budget and your paychecks (once you've factored in $ for your pleasures) you should be able to set up a spreadsheet that can predict when you'll have enough for that down payment.

However, the truth is a repair is a repair is a repair and all of them ought to be foreseen, especially the ones we call capex (a roof or furnace for instance).The best way to predict and prepare is to have a reserve study done.

However, as the Fed is expected to slow its rate hikes amid cooling inflation and the economy, the mortgage interest rates are expected to drop in 2023.Severe RecessionMany economists are predicting that the US will likely tip into a mild recession in 2023.

You never hear of some law being passed that is pro VR.I believe it is important not to have only VR properties and not have them all in the same place.If you do have them all in one area and this is all of your investment income, a simple law change can sink you and depress market prices as everyone rushes to dump their properties on the market.You can never predict when laws might get tougher on VRs and the hotel industry puts more pressure on these properties due to the income they are losing. 

We have very predictable capital growth, (values double every ten years) and rental growth. 

Refrigerator, while you cannot predict, the fact that you bought it new, you would expect it to last a while. 

I can't predict the future, but I can learn from what history tells me, which is, real estate markets are cyclical.

In my opinion, and echoing the sentiments expressed here, this is an area with solid, predictable, consistent tourist traffic and limited "traditional" lodging opportunities, which is a good environment for STRs - but the market is quite competitive, and a top-notch experience and some sort of hook or "niche" will be necessary to keep your property at higher occupancy. 

It only works if you have some flexibility in your schedule during the week day and completely and predictably open weekends.