Wanted to reach out to the community and make sure it wasn't a necessity to create an LLC as soon as possible because I would like to make sure I hedge my risk as much as possible in case an emergency would occur at or with a property I purchased and own outright, thanks. 

It has middle-of-the-road tenant/landlord laws—evictions do take around 3-4 months, but there's a clear process to follow.Beyond that, Detroit is an emerging market with a lot of potential.

In Canada when housing prices went up, new mortgages started to emerge to increase 'affordability'-ie allow people to get 30 year mortgages, so they could afford to buy a home. 

As a GC by trade, I have subs every week pushing to do more in a certain area saying 'You can just charge more for the house.' 

To qualify for REPS, the taxpayer must spend more than 750 hours per year in real estate trades or businesses in which they materially participate, and more than half of their total working hours must be spent in real estate activities.

ETF doesn't offer much advantage over mutual fund for retirement account in my opinion, as you don't want to trade often or cash out (unless for emergency).In general it's recommended to contribute 10-15% of income to retirement account.

They are like " a jack of all trades but a master of none".

Men generally have better depth perception and are more used to moving objects so are many time better drivers BUT they take bigger risks and have more fatalities when they do crash.Women investors (stock market) many times will do what they are told to do and not do a lot of trading and will stay in stocks when the market tanks so end up coming out ahead of men.Like as @Jay Hinrichs mentions these capital calls could very well be a disaster for marriages where the man is in charge of the finances.

Any upcoming or emerging markets that should be on the radar?

Emerging Market OpportunitiesOut-of-state investing lets you tap into emerging markets, which often experience rapid appreciation.