We are cash buyers who just purchased our first home there (we own more in KY) and would like to purchase 3-5 properties per year around the 50-60k each range, rehab with our own $ to achieve ARVs around 70k-90k and then cash out into a portfolio loan.

In fact, studies showed that a monkey randomly selecting shares of companies can achieve the same yearly return as the average traders in banks. 

Basically, what exactly would you like to have achieved in 1, 2 and 3 years?

I look forward to achieving the same successes some day!

Each goal will have a different strategy that will best help achieve it. 

Either way, there is likely little insulation in the existing envelope, but if the building is structural brick, it would be more difficult and costly to improve the insulation and air seal of the envelope (first hand experience here).     

To get back to @Jeff Rabinowitz original post, after initially investing in properties within the city (Zips 48223,48235) for long term buy and hold, and experiencing firsthand all the unforeseen complexities that go with that strategy in Detroit, I am taking a step back and reconsidering - looking for cleverer routes with the right partners on the ground.I think that both the suburbs and the city proper have great opportunities (and am considering further opportunities in both)  but not necessarily the same strategy.

I can attest first hand of how ludicrous the property taxes are-$4500 for a property worth under 100k.

I am very successful in my other job and have achieved this through honesty, integrity and respect for all who I do business with.

If you have achieved financial independence by investing in real estate, congratulations!