I have 30+ units and on a regular month usually only spend about 5 hours total on management things, most of which involves collecting rents and bookkeeping.

That being said it’s worth understanding what’s working locally as your next step varies jurisdiction to jurisdiction.

Aside from strategy you must understand how to underwrite a deal. 

I absolutely understand your point.

Otherwise, I'd say watch those areas closer to Micron understanding the barrier to entry will be significantly higher in exchange for the lower risk.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I understand where you are coming from as we always did our taxes on turbo tax as well until we purchased rental properties. 

My non-professional understanding is that those losses can only be used to offset income from that property.

Both offer unique advantages, but understanding the trade-offs is crucial for making the right decision.

I have lived in Truckee for over 23 years and understand the pain you can go through dealing with a local government where the answer you received on Monday is different than the answer you receive on Tues, Wed, Thur & maybe even Friday if anyone is working.