@Faisal ZamanI would suggest accepting rent payments only by money order or cashier check to avoid issues with returned payments.

Any metros that over built the last few years are having vacancy issues.

I file under an S corp with about 23 doors and a flip or two a year with only meeting with my CPA once a year. 

You don't need to be driving each time you need to flip.

We provide fix and flip loans as well as DSCR loans.

If you are buying it to flip, you aren't going to find much less than 20-30 percent down.

The median income and other MSA data is garbage, at least when it come to Detroit, so agree your $30k is also then garbage, per your logic:)City of Detroit is suing the Census Bureau for their antiquated methods leading to misrepresentations of Detroit.

I’m concerned that it’s a fire or safety issue? 

I have Rehab and hold 2 properties and rehab / flip 3 including a duplex.

Anytime you see discoloration on your walls, floors or ceiling it is a signal to address MOISTURE issues.