@Nathan Frost  Ironically, I did the majority of my real estate investing in Texas while living in Metro Detroit, and you are doing somewhat the reverse.I didn't want to get too negative, but suffice to say the City of Detroit* is a very tough market. 

Recently Clint made a post about the land market has been tough & how he felt burn out from teaching things that don’t work like they used to.

Does that include materials and labor?

Rehab costs and  are key parts of evaluating deals, so it's great that you're diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor.

I may need to be paying off rentals in high market times such as these when it is tough to find a cash flowing property as more and more rental income will in turn be going towards principal and not the bank.

I totally get where you're coming from—finding deals that pencil here in the Portland/Beaverton area is tough, especially with the high cost of living and interest rates.One approach that’s been working for some investors locally is exploring opportunities with mid-term rentals (MTRs) or hybrid MTR/STR setups.

Could be tough for the area, but also might be a great opportunity too for some large manufacturing facilities to go in there or logistics operations with all that land and location.Good luck and best wishes.

What makes it tough in the beginning is your rental income is not established so you need to be able to handle the debt not using rental income. 

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I think it would be tough and I would not spread yourself out that thin.