If you are putting in mid-level finishes, such as laminate countertops, don't use a comp with high-end finishes such as quartz countertops.Step 5 - What you choose as your target acquisition cost formula depends on your and your business model and is not an industry standard. 

You keep learning and graduate from apprentice level to journeyman level (in German "Geselle").

What usually survives after this "readjustment to the world" is an understanding that thinking bigger is necessary to live at a higher level, BUT not everyone who lives at 1x is a fool or worthless being.Read it with appropriate caution, then read Speed of Trust, the Go-Giver, and The Millionaire Real Estate Investor. 

In turn, they help me succeed at a high level!

@Kano Wu, building on Scott's comment previously, you need to run a very precise due diligence regarding the SRT regulations, both at Township and HOA level.

That’s when I knew it was time to hire my next employee — an Acquisition Manager.I found Milton using a paid Facebook Job post ($60), and he took the business to another level.

As for the flood plain tolerance levels between investors vs. primary residence owners, that makes sense, to a degree, of course...I know there could be some reluctance from renters as well, which I need to account for. 

But don't let the level of rehab stop you.

Being out of state bring a whole another level of complexity, my advice would be to find a house in a B area in Detroit or in the suburbs, ideally with only cosmetics repairs needed (you don't want to open the walls on a house built in the 30's), find a good property manager, put a good debt in place and repeat the process. 

I'm a new REALTOR and I was wondering how do I get into property management. How do I get certified?