I understand that it can rapidly increase.

Mortgage pay down is nice, but if the value drops 3-4% per year as people keep fleeing the state, the equity achieved by amortization vanishes rapidly or takes decades to amount to anything significant.I think the OP can do better, or if not, he should find another market with better returns or park the money for awhile and wait for better opportunities.

, Grand Rapids, and Indianapolis. 

If you are out of state I might try other markets as well, but with that being said this is a great part of the country and the population is growing rapidly.

Does anyone have any input on estimating taxes, insurance, and water on multi-units in Grand Rapids? 

And one in Grand Rapids, MI for 23k I sold at S.

Anthony Gjolaj I second the recommendations of Westland and Livonia, I’d add Garden City, parts of Romulus, and perhaps Taylor as prices are still low but appreciating rapidly - safe, working class, solid areas that have ok schools.

I'm a motivated newbie investor looking to network with other investors in grand rapids mi area. 

Even in a rapidly appreciating market, this is near impossible to achieve in one year if the original home is close to turnkey at purchase.I spoke with my mortgage broker yesterday and he told me there is a product that recently started being offered that is called a VA Renovation loan (I am looking to do the same thing you are). 

, but you can start applying the BRRRR strategy to rapidly grow your number of rental properties.