I had to go that far away due to the insane cost of real estate in Boston, so I fully understand the predicament.

Quote from @Kwanza Price: Thanks Chelsea for your reply.I mostly wanted to understand what the experience was like and if you have any advice for setting up an LLC/IRA?

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.

Would have to view the property and understand the inherent tenant businesses. 

From what I understand, that essentially negates the protection you get from having an LLC.

That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

It was one of the most oversaturated markets in the most recent years.Big bull on NC, but projections like this make me really wish analysis was done understanding historicals are just that-- historical.

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

This would include doing mainly flips so i can get a solid return from that money or possibly even doing private money lending.