As an investor who specializes in finding owners/heirs to highly distressed properties, I understand more than most the importance of quality data when it comes to getting more deals.   

Wow I actually played high school football with the guy hosting this. 

Prices seem to top out high $2,000's with many in the mid-$2,000 area. 

Detroit is very block by block and the margins aren’t always high enough to afford mistakes.

I never recommend out-of-state investors buy anything for less than about $55-75k all-in or, generally, it will be in an area that has a mediocre tenant pool with high turnover and bad turns when they leave; the price to rent ration doesn't matter when these items eat up your profit year after year.For multis, it's a little different, but I typically ask them to focus on units that rent for about $500-550 minimum to have an easy time managing them and finding quality tenants. 

Indeed, I don't want to get into an argument with Henry Clark mainly because he invests there and I don't but also because I don't like being negative, wasting energy on arguing and I highly respect and appreciate Henry and his many contributions to this very forum.

As you begin to close deals, you will then start to really build your real buyers list.In real estate, when somebody doesn't have experience, bringing the "deal" is your most powerful weapon.

Prices are also area specific , if you live in an area with a high cost of living , you will pay more . 

What you're proposing is really high risk.  

I dont have a very high monthly electricity bill.