@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend 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 property in Class D area to Class A standards, what quality of tenant will you get?

Some investors I know have second-guessed pulling from their 401k when markets rebounded stronger than expected.

I also like to cross-reference that data with Facebook marketplace, craigslist, Zillow and apartments.com listings to get a really good idea of expectations for rent in a specific area.

I just can't believe that local governments expect property owners to foot the bill indefinitely and for the housing system to not fall apart as a result...

1) cannot qualify for traditional financing2) fears appraisal will come in low3) fears buyer will back out so reduces contingency optionsnote for cash purchase I expect a significant discount.  

So my expected return from buying MSFT, FB, etc. is the same as what I expect to make in real estate. 

And don't expect the compliant tenants that complained to stay after you minimized their concern and did not address it.

I'd take a trip down to persuade him but then I would be the one in trouble for expecting the idiot to actually be a man and hold his end of a deal. 

Whats the expected monthly rent?

Quote from @Drew Sygit: @Aaron Raffaelli we're also in Detroit area, so let us know if you need help with anything.Edit to my last reply:I just a saw your post from yesterday talking to someone about the Classes you can expect around detroit, and that did help me get a better understanding, but it did bring a new question to mind.