I've personally been able to avoid most of the lows b/c I'm constantly in a semi-state of paranoia -- Only the Paranoid Survive as Andy Grove would say -- but Detroit Proper is far from prime territory for the beginning and/or small real estate investor. 

@Michael Harris I've been seeing East Village flips pop up more recently.

High interest rates in real estate can be challenging to navigate, but there are strategies investors can use to survive and even thrive in this environment.

Quote from @Theresa Harris: Is last month's rent somehow included in the original lease?

Quote from @Theresa Harris: Find out how much you can borrow from the bank for a mortgage.   

I am shopping for a fair Indianapolis property management company that does not survive on random fees charged each month.For example, 8 months into a lease with a property management company, I have only had one month where no Misc/Repair/Fees were charged. 

Assuming this is a first lien foreclosure, the IRS lien survives the first lien and you will deal with this lien in a separate suit.

It mirrors my other company's model but I do manufactured and modular homes.I was around and survived the last crash. 

@Theresa Harris $1350 up and $1150 down.

This is totally the wrong philosophy since major plumbing, roofing and other repairs set the investors way back, but the real serious problem is the increased costs and inflation make it so that landlords barely survive and never get rich.The big money is earned through appreciation.