Truth is I couldn't afford to pay someone else to reno the whole thing.

Detroit has many whole blocks of housing that have been razed due to the decreasing population.

As long as you're ok with the risk you're taking, and you are achieving higher returns, why not?

I have had good luck with http://www.rentlinx.comIt sends your listing to a whole bunch of websites and has a CL ad poster that makes a nice ad with lots of pictures.

Seems a whole lot easier to go room through room to them before they move in and go over the checklist together.

Lets say you go from $25K gross income to $80K income (mid-point off what you say is achievable).

All of those things were necessary to "get us out of the whole", or create a smoke screen that we were out.Kenny - there likely are very few substantive differences in the way we perceive life and business.

Try using a couple of different shades of neutral colors, as you don't want the whole house to be 'navajo white.'

That takes a LOT of time and effort, which sounds like a lot of work and not that profitable unless you own a whole block and are in no hurry.

Get ready to spend $50,000 on your direct mail marketing campaign and stay positive throughout the whole process and just believe in yourself that one day you will find someone who's willing to sell the house for 50% retail!