Then an ongoing annual management fee would be 4%ish, and  more if you get a class C apartment with lots of work needed.

Also, you'll need to figure out where to invest: Macomb County has 27 municipalitiesOakland 62Wayne 43City of Detroit around 183 residential NeighborhoodsThey can all be ranked as Class A, B, C or D. 

Do you understand that asset class and market?

Getting the deduction when abandoned or at the time of updating those asset classes and also getting the assets off the balance sheet to avoid future gain from sale price allocation.

Quote from @Brendan Lawrence: Looking for solutions to offer financing to buyers:We have a unique asset class that we're building out here.  

I suspect 90% of those who take the classes to become an agent are not active within 2 years.

I  own a stabilized, class C portfolio of 200 or so single family rentals here that I self manage.

@James KieferRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.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 Class A property in Class D area, what quality of tenant will you get?

@Brody Veilleux what balance are you looking for between Class A/B/C/D properties and ROI?

Here's some hopefully, helpful cut & paste info:------------------------------------------------------------------------------------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 Class A property in Class D area, what quality of tenant will you get?