Now, obviously, the higher rate is generally associate with a newer remodeled unit which is professionally furnished and decorated, so what I'm trying to determine is the sweet spot for how often I should remodel in order to justify the high end price.

We also had a 5 plex with zones we took it off zones and regulated heat by thermostat control on the furnace got it to a sweet spot and kept it there.

You might already know that, but it's a sweet deal that can really help anyone starting out.Keeping your day jobs will also help with financing to start as you build a portfolio/track record.

@Atul Mohlajee....very sweet deal....and great cash flow...I love Cash Flowing properties....a perfect way to retire early......I always thought about Forest Park but not yet invested in there so far... how is the market around Forest Park???

They often times can do a lot of things, but you have to figure out what their sweet spot is. 

When you are rich enough to sub-contract the work or have a great manager worry about it, you will know what it takes and what it costs.On that topic... your managed choice better be someone you trust with a million dollars in cash, able to understand electrical wiring plans, and be sweet with your newborn or stern with your wild teen.

The Detroit bordering suburbs seem to be where you can find that sweet balance of cash flow, lower maint, and 1.25-1.75% deals.From what I see, in the City, the ROI can be crazy with a low price point, and if you're betting on appreciation (not my personal strategy)..some people very well could get rich quick some day..

Sweet.

A mom n Dad, 2 Moms, or 2 Dads......2 kids, one of each approved gender, a puppy on a 5 year stay. 

My ROI on the $27,500 cash invested would be 12% conservatively but could be much higher, again, if there is no no vacancy/repairs/capex during the year.For me, my absolutely worst case return requirements is 9% but I always shoot for 12-15% as a sweet spot.