@Kerry Hermann - the posts by @Michael Ewers and @Samuel Coronado were solid advice (I don't know Nita Cook whom Sam referenced, so that's the only part of his post I can not comment on).I second what Michael said about the market here - it was fantastic from 2017 (when I started) through 2022 - then it really started to crater in 2023 (although we still found some deals), and the bottom completely dropped out in 2024 (found one small commercial deal and one residential flip deal in 2024 - that's it). 

I would say the cash flow would go up every year and that would usually be the case but my son will be moving into one unit probably for just the labor to rehab the last unit (collected rent will go down for a year).After that rehab is complete, at market rent I would have about $8k/month cash flow with underwriting that most would consider conservative (for example $1200/month allocated to maintenance/cap ex). 

You could force the seller to bring it up to code before the sale is complete as one of the contingencies of buying it, let them deal with it.

First, they allow you to make lower payments during lean times, such as during remodeling, vacancies, or when you need to qualify for a loan before completing a renovation.

That's completely OK. 

This is also true in lower income areas, where a $100 rent bump is the difference between your tenant being able to feed themselves each meal or not.

It gives you complete control over the property and helps you build the foundation for future growth.If you're planning to expand your portfolio, I strongly recommend partnering with a professional management company.

What would the rents be for the duplex after the rehab is complete (assuming both tenants are paying rent)?

I completely understand that real estate is a slow and steady game, and I don’t expect overnight success.

I've been primarily focused on Detroit since 2019, and it's been quite the ride.Out-of-state investing has its pros and cons.