Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

I will give you the numbers then tell you mu strategy idea. house purchased for 415,000 in august of 2020 at a sub 4% rate but I treat it as 4% because I am not 100% sure what the rate is (I am getting into contact with realtor soon don't worry)The house could rent for 2,500 per month at minimum and I think I could get 2600-2900 but not 100% sure.It is now on the market for 600, 000 but I think I could get it to 575 since it has been up for a couple months.well 575,000 at a 7% APR is way higher than the rent so I was thinking I could do a seller financed route.

I think it will be unlikely to find a commercial-style loan for a multi-family property at anything less than 20% down...they will likely be 25% or more at this point. 

What else should I be thinking about?

If you are new to renovation, don't let people trick you into thinking things like adding a bedroom is easy or warranted.

There are other residential in the neighborhood so zoning i don't think would be an issue. 

My parents live in the Katy neighborhood.It is very safe and from what I understand, has a good school system.A lot of the homes are 'newer builds' since it is still a relatively new neighborhood.You are also in downtown houston in about 30 minutes during non-rush hour times using the I-10 highway.I don't think you can get the 1% rule anymore in the area but close to it.Since the homes are newerish, hopefully the property won't have too much renovation / repair costs.Best of luck

While I agree with Collin on location, views and water front, I also think you can stand out by being unique.

Therefore, I think I'll be placing heavier emphasis on cash flow markets.

I think you should consider how to comply with the TCPA first.