It depends on whether you are using current investing methods that include a bank or if you are using creative financing.Here is the difference.

Make sure you have the money to replace it when it fails. 4.5k is low - could be up to double this depending on the ease of installation.Electrical, hvac, chimney, needs their own inspection done by the contractors to determine exactly the cost.

Depends on the tenant.

@David SchimanI think it mostly depends on your level of expertise in real estate.

Then eventually turn it into a long term rental (or full time airbnb depending on local regs) when we buy our next property.

DSCR is a type of investment property loan that lenders use to evaluate the cash flow from a property relative to its debt obligations, rather than primarily focusing on you, the borrower's personal income.Down payment: Expect to need at least 20% to 30% as a down payment, though this can vary by lender and property type.Interest rate: Interest rates for DSCR loans are typically higher than those for conventional loans because lenders view them as higher risk.

It's hard to give an absolute number because it'll vary depending on the size of the market. 

The timeline can depend on the your closing is.

Labor is the biggest cost of construction and it heavily varies by location.My husband and I have only done spec homes thus far, but we're getting into doing custom homes now. 

When it comes to Detroit it's really going to depend on what kind of gross profit you're looking for.Can you clear $20k-$30k on a deal that sells for $120k-$150k?