In any case, I declined the out-of state opportunity over the new year, and then had a snowboarding accident which put me out of commission for a month in January.

According to the data, Detroit and its suburbs has been having a decline in population in the last 60 years.

Watts will not improve, like a neighborhood like Echo Park, but it won't decline either. 

A lot of people did that, that added to the acceleration of the decline.  

And for SFR's you're not likely to find a lender that will do asset-based lending, unless you have a portfolio of them that you could do a blanket loan on.Hey Marty, my major roadblock is our taxable income, W2 income declined compared to the previous year (wife out of work due to baby and starting of an additional business), we took a lot of deductions for 2018 tax return and the income from those deductions will only be on the 2019 return. 

If population is declining in the area where your current rental is you are essentially trying to catch a falling knife because you don't know when or if the population loss will stop.

First lender declined.

However, if their has been a decline by 20% or more in those commissions and bonuses in the last 12 months, you will only get the lower average of 12 months.

I will also be reviewing applications, approving/declining tentants, drafting the rental agreement, etc.

Overall the current economics of it sucks and land values have declined, which may make it a good time to enter.I understand that it would be capital intensive and it would not be a get rich quick scheme; but for me it would be very enjoyable being a miniature timber baron so to speak.