You can acquire investment real estate in Metro Detroit for any budget; discount homes in Detroit may need major renovation.

You'll see what foreclosures sell for, make sure you save homes that are sold at discount so when the investor resells, you'll have a vague idea of what your margins should look like. 

The point is to find people who need to sell their homes at a discount and get it under contract.  

Hey BP family, I am acquiring a 4 unit at a discounted price ( and yes, I did the numbers, Cash-flow, Cash-on-cash ROI, Cap Rate above 7% and planned for all expenses with the Rental Property Calculator and tips from @Natali Morris Podcast 165) and I am still cash-flowing about $400/mo.

When sellers accept this kind of discount, many times there are issues the seller just hopes will go away, or be missed.  

Huge tax breaks, near 0% vacancy loss, and a substantial discount on the cost of the property seem like good reasons. 

A few pointers:Do as many as you can before you have kids, because having small children will absolutely kill this strategy, bless their little hearts.You are smart to buy distressed property at a discount, then put some sweat equity in to fix it up.

If you are like me, I am always looking for a discount or a deal when it comes to buying things for our flips.  

There is a liquidity discount for cash now, happens all the time in finance.

I am currently working on purchasing a 3/1 Townhouse at a large discount with a investment loan with a 15 year fix.