Obviously I realize that the older the building, the higher the deferred maintenance expenses... the worse the neighbourhood, the higher the rent collection challenge, evictions, damage, etc. etc.

IE they move out and you find $2k worth of damages, and then they fight back that they made the place so much nicer how dare you (when the floor was only $500).

You can require the tenant to go through the PM for all repairs, if you don't already... 4) Do you/your PM's require all tenants to carry renter's insurance in case one of your tenants causes unintentional damage to the unit?

For the trained eye, you’ll notice I removed the existing window and plan on replacing it with a smaller awning window that will be at a higher elevation to minimize future water damage.

I am not at all concerned for my personal safety while traveling in Detroit, but rather the damage that scavengers could do to a property if there was ever a vacancy.

If the risk is high, and the insurance company issues you a DP1 type policy (bare bones insurance policy) they will not reimburse you for any water damage that occurs when pipes burst. 

That being said, after a couple of years of pretty much giving the entire SD back because there was no damage, I felt more comfortable with the move in fee.  

Usually creates a smoother transition and less damage tot he home.

I am a KC investor in B neighborhoods and do find the cash flow less, but the rent comes in on time and the brain damage is much less.

They also absorb many expenses that the tenants could take on, such as a few utilities, background checks for applications (they pay a lot for this a year), and damage out of deposits at year end.NOI under new management could near 70k with savings for 7% vacancies, 7% repairs, and 4% CapEx (due to many apts in just 2 buildings).I'm interested in trying to figure out how to schedule a payback period in excel, if anyone has number crunching experience with that for 1) the loan, and 2) the investors downpayment.