It's important to note that Detroit may have higher vacancy rates and lower demand, which could impact rental income and property values.

Take advantage of that.Hiring contractors will decrease the profits you would make if you had done those projects you were able to do yourself, but it will also shorten your holding time.  

Interest rate, even if this is a cash deal?  

Not sure what the going rate is.

Good news is rates are starting to trend down and property values are still growing.The cash out can serve two puposes it can help pay off some high interest credit cards and be used for a down payment. 

At any rate, thank you for the info.

There might be some other creative loan products that are available to you so having a good lender can help reduce the monthly payments until the rents increase or you can refinance at a lower rate. 

I would use nontraditional REI strategies right now, due to interest rates and housing premiums.

As for what I can provide, I've been strengthening my underwriting skills by analyzing deals on LoopNet, diving into metrics like NOI, cap rate, and the 1% rule.

I would be very surprised if this was accurately done.That means you are cash-flow positive after depreciation of $1,666 per monthIf the return was filed, you may want to pay another accountant to look over the return to see that it was done correctly.Yes, buying another property, given today's condition of high prices and high interest rates would likely decrease your rental taxable income.