One of the local REI groups had a HML speak to the group some time ago (within last year) so the answer to your question is they are out there. 

The roof was replaced last year.

Hello,I have a new tenant (single mother) moved in last month 9/1/16 paid 1st month rent and SD.

He currently has it listed for $160 but that's crazy given the kitchen and bath need makeup.DETAILS:Mortgage Principal balance is $108 (they mentioned payoff amount is maybe $120)they are about $10K behind on the mortage (1 year in default).They went to court last Friday and the judge ordered the $10K to be paid up or they will have to vacate the house in 90 days - they don't have the capital for the $10K they owe - and they don't have capital to move.They've been in that house since it was built.

I have been running my family restaurant business for the last 11 years, looking for new venture for myself

I will be moving likely within the next 8-12 months or so, and my wife and I are planning on renting out our house, so that's how I figure we will start.I've got a pretty good gig going with the AF so this will be more of a supplemental thing for me at least in the beginning so I would say I'll probably be taking a more passive role to start, although I'm open to anything.I spent the last two years as a recruiter so I've gained some valuable experience in Human Resources, advertising and marketing, cold calling, as well as general salesmanship so I think I can find a way to use those skills in this venture.

I do believe that Detroit probably over corrected to the downside last downturn, and now that it has recovered to a reasonable level will revert back to its long term appreciation trend, which is not so great.

I looked at the comps a lot, and I do realize the price is retail, but the upward trend in that community has been moving pretty rapidly, with the last couple of places closing in the 160s (none of which were 2 beds).

Add:  Verify employement and last landlord

Last question is, have you discussed the proposed plan with your 1031 exchange entity?