New construction may be an option, many builders are offering rate buy downs and closing cost assistance and then you get quicker appreciation when they continue to build out the community.

@Alex Johnson Detroit-Michigan falls in the middle of the pack regarding "tenant-friendly".As you start to build your Core Four, NEVER believe what people tell you unless they can explain it logically or provide 3rd party proof.Here's 3rd party proof that Michigan is in the middle of the pack:)https://realwealth.com/learn/landlord-friendly-states/https://www.lawdistrict.com/articles/most-renter-friendly-us...

I hope to build our property management up to that level someday. 

If your credit is strong you may be able to access an equity line for up to 95% combined loan to value. 

Granted - these hard money guys don't play around with their rates and fees - but they'll get you more leverage and help you keep the equity requirements lower so that you can build up a strong track record and start taking down deals with your own / immediate family equity. 

That's another good tool for wealth building when used correctly.Once you jump that first hurdle it gets a lot easier. 

They are founded in Oregon and as a result also had a strong conventional RE division that supported buyers and sellers of Vacasa managed properties.

We saved lots of money and time, by condo-ing a 17 townhouse complex as well as condo-ing and existing building built around 1900. 

The HOA covers all water, flood and building insurance, internet, bug spraying etc. and it's $1562 a month.

I have came across an old school building that I would love to rehab for the local community.