I would want to keep extra for reserves along with contingencies, plus if anyone in the area has stored away the 10,000 for a cost segregation details on that would be helpful too.

Average housing price in Detroit is still really low compared to the national average and Detroit's appreciation over the last few years has been good and trending well. 

I am married to a successful interior designer who serves luxury clients but can work with me to make rental properties look great for half the cost with her knowledge of what makes the most impact.

Buy low and sell high.

@Kevin DuongShort-Stay Rentals (STR) can bring in a lot of cash but also come with high costs for when guests come and go and tough rules.

With $50,000, I could cover the down payment and some renovation costs.2.

It's pretty hard to invest with $8k since most lenders have a $100k minimum loan amount, meaning you will need about $35k to buy a property after the 20% down and the associated closing costs. 

We track most things manually, but use Apartments.com for the units currently occupied (adding more units in our portfolio will incur the Apartments.com premium cost, so I want to explore my options if software is no longer free). 

What’s the best way to remodel this that will be the most cost effective?

I marketed this property as a business - as it brought in 155K in gross revenues , could go to 180K with some extra work.I see many people who got into the airbnb game 3 years ago trying to unload now, almost at cost.