Hold, continue building equity, and in the long run you will do well.

I used to have something like this, but it pretty comprehensive.I have the original unmodified version I started with that I can send to you if you'd like it.I believe its geared towards units where I've modified my version specifically for commercial industrial/office/mixed use developments.If you want it send me a PM with your email.

Because of common marketing strategies by the industry, their expectation is that a lender will provide a loan at 70%-80% of the value of the asset after its been repaired, upfront.

If you have the hustle, you can get better cash flow using alternate rent models, but they require more effort to do well than managing rent ready LTRs. 

I do know of one guy that does this and does very well.

Here is a great place to meet other investors like yourselves - https://www.oreio.org/ Not quite sure if once you acquire that property if your intent is to manage it as well for some insight into property management give us a call https://peartreegroup.ca/. 

You'll do well. 

But I know the city well and spent 5 years on the ground in the Detroit area.Newer folks need to do a ton of research and/or work with someone that has a ton of experience and is going to be honest with you.Detroit can be extremely block by block.

They are well capitalized and qualified but preferred to minimize their overall risk and minimize out of pockets contribution while rates are elevated. 

I think a homeowner can generally do fine with just a real estate agent but I'd agree when homeowners try to FSBO it rarely goes well.