Worst case you can crash in the place...Detroit is a gold mine for someone with strategies for Detroit conditions and a money pit to anyone with easy money ideas.

I can help connect you to a few options, as can others you can find in the local forums.e) Of course all investors want to buy at the dip, but don't rule out opportunity cost: what is the relative, compounded cost of waiting 2-5 years for a slow-moving housing market to crash again before pulling the trigger and buying an investment?

I am not sure what led them here (whether its from state to state move or they came here immediately) I came here because my parents had few friends who already settled down here but we are originally from Detroit.. we left in 2009 when the market crash. 

Its kind of a pipe dream to think you will save so much money(at least in the current market) on a low buy to spend 6 mos carrying it and missing revenue to start making money later on.We did this a little in the 09-11 crash and recovery but we were stealing houses back then for prices we will never see again in my opinion.Turnkey is the way to go with a little deco required and maybe light paint(think nothing that you cant do at gaps in rental).

Inexperienced LLs sometimes get caught by this with unpleasant surprises.

Hi @Keir JohnsonI bought my first duplex before the market crash, in a good neighborhood that I knew I will be able to rent it easily5 years later, I bought the house right behind it, literally behind it, same set up, needed some work, nothing crazy and paid 100K lower. 

The construction took about a little over one year from 2007-2008 and our cost was around $140/sq ft.When it was completed, we tried listing the house for sale but the housing market was crashing back then so we ended up having to rent it out. 15 years later we still own it because we love the rental income ($3100/mo) and don't have any regrets about not selling it as we had originally planned. 

Potentially the greatest crash ever will happen soon, soon being relative of course.

Everyone is freaked out about what a RE crash like 2008 does if it were to happen on top of COVID.

Agents are just a nasty unpleasant bunch, and Realtors are 10x worse.