They may however cash flow as they will be more economical.   

Detroit maybe not so much...USDA loans are more universal as they are determined by number of people counted in the track not their racial or economic location.

There are opportunities in every economic cycle so advice pertaining to market timing is just not valid.

Economic uncertainty with the possibility of recession2.

This home will continue to appreciate as the development and city grow larger and more economically diverse.

Memphis offers a solid rental population, lower price points, lots of economic stabilizers and expected growth.

So you can still get some cashflow, not as much as in Cleveland and Toledo, but you'll get way more appreciation and economic growth in the long run. 

That means looking for markets with strong economic and demographic fundamentals.

Some information/data I am looking for are:- demographic        - industries      - economic climate      - population            - income           - crime rates                 Does anyone know of a one stop shop or even just good resources for each of these pertaining to specific location or zip codes?

@Michael Bryant it depends on the part of the economic cycle we are in.Prior to the housing crash in 2008-2010, national lenders were popping up everywhere and were aggressive with their lending programs, offering products and rates local banks couldn't/wouldn't.These players disappeared after the crash, so small local banks became the only option.Since about 2014 or so, they've started popping up again.With the ongoing softening of the economy, many of these national players are bound to disappear again, leaving smalll local banks as the only option again.Since you're interest in Detroit, keep reading below:We think the Midwest is a GREAT place for OOS investors to consider!