Hi there I have one property in Detroit I am about to close on and I am looking for recommendations of good property managers and contractors/rehab-ers who specialize in renovating residential real estate in Detroit.

Would an 80/20 split be far if we are finding the deal, managing renovations (and doing some ourselves), and then acting as the property manager as well? 

There is a lender for every deal out there.Other option could be see where rents could go in theory after Renovation so if the all in cost makes it a much better than a 1% deal once it’s stabilized it may make sense.

Renovation 17kSold for 84,900 and paying 2500 toward closing.

Even for a totally renovated house, I'm still budgeting for around $1/SF or $1000 (whichever is higher) of annual maintenance.You might also want to double check that your HML has no origination costs.

I haven’t used Jesse on a project for myself yet but he is doing a complete renovation of another friend's house.

My hopes were to hopefully buy the homes in poor condition cash, perform the renovations cash, rent them, and then refinance.

Also, will there be a demand for the units after the renovation?

The city does have an investor program called "Vacants to Value" targeted to help renovate rundown properties in decent areas, but you do have to jump through hoops as you do with any government program.

But rents are way below market and we will be renovating and driving rents where they should be.