I focus solely on Detroit proper because, in my experience, the rent-to-price ratios, opportunities for value-add projects, and overall market potential are much stronger there.That said, Detroit is a nuanced market.

I recently came across a property near the international airport that seems to have good cash flow potential.

It was in our list to potentially expand our portfolio, but we already have 3 properties close to the shoreline....perhaps one day.

•Business Cards & Branding: You can list both services, but if you want to avoid overwhelming potential clients, consider having two versions—one focused on PM and one on real estate sales, depending on who you’re targeting.Best Way to Generate Property Management Leads1.Target Landlords Where They Need You Most•Most landlords seek out PM services when they’re in trouble—tenants not paying, evictions, property damage, etc.

Budget between 300K and 400K.Any areas that have the potential for a good cash flow?

Each potential buyer has come to their own conclusion that it would be too much hassle and risk to manage in this fashion vs a traditional rental even though the average cap rate in our area has been half that at best.

The "land basis" cannot be depreciated, so your depreciable portion will be lower than $350k.We typically consider $1 million in building basis as a rule of thumb where it makes sense to evaluate the potential benefits.

Be sure you to have offer for potential homesellers to raise their hand... like a Home Seller's Guide.Call expired and ask them how come they think their house didn't sell and listen to what they say. 

Regulations & Compliance: What's the best way to research local STR laws and avoid potential regulatory issues?

In that case, you’re living for $2,000 a month—while building equity in the home, benefiting from potential appreciation, and taking advantage of valuable tax write-offs!