For contrast to your plan, we have several private money partners lined up for buy and hold rentals and are now actively looking for properties that fit our criteria.

I’ll check out Kenneth and see if he’s a good fit for my family’s needs. 

While she has stated "East Side", I realize this may be limited at this pricepoint, so I'm open to other neighborhoods as well. 

However, partnerships, S-corps, and C corps require an additional tax filing, plus there are wage considerations that go along with the S-corp and C-corp designation, all of which you might not feel is worth the effort of managing.My advice is to schedule time with a tax pro who (a) has expertise in business returns (not all of them do), and (b) does tax planning (not all of them do) and have them help you map out some scenarios to decide what structure will best fit your goals and strategy.

If I renew with the current tenants, I'm saving the property owner the cost of turn over and placing a new tenantThere are many different fee structures that PM companies use, definitely look at all the areas you're being charged to determine if they are a good long term fit for you.

Put a sign out front and Banditsigns. around the neighborhood go up and down your street and ask neighbors if they know anyone that wants to buy house on the street  you can put an ad on craigslist Good luck

NOI is $13151, which would be an 8.2 cap (this is a 12 cap neighborhood), and debt service would be 6400 with a 30 year am, 5% interest.

Thanks Amit, I was am a little torn as techies might not fit the profile of the building and would have more "foot traffic" than if we were to rent to a family. 

I purchased my second property in Detroit. CUTE and in good shape 3 BR Cape Cod (aka bungalow to Detroit folk)  I want to paint it a lovely colonial blue with white trim. Very simple. My agent/Property Mgr told me tha...

I have my own criteria @ market, neighborhood and numbers.