Purchase price: $175,000 Cash invested: $43,000 3 Bed 2.1 bath 10,000 SQFT lot Cul-de-sacCharming home completely remodeled.

The city has been undergoing massive revitalization over the last 10+ years, has seen its first population uptick in nearly 70 years, and prices have doubled in the last 5 years.A lot of folks are finally starting to understand there's a lot of interesting growth happening in Detroit.

I rented a 4-bed house in Royal Oak, then got 3 roommates that I charged each 30% of the rent, so they covered most of my  rent.You can do the same if you buy a house:1) More rooms the better, if renting to fellow college students.2) Can YOU live in the basement?

I came across conflicting information online, so I wanted to double-check with the knowledgeable folks on this forum. 

You also have lawn and snow removal in multi's, where SFR tenant is responsible.Finally, SFRs typically garner more rent than multi's, for same bed/bath/general size.  

my property assessment almost doubled this year.

They've also enacted a bed tax specifically targeting short term rentals.

But it seems like the current house prices (3+ beds, 2+ baths with a pool) doesn't seem to incur a good cash flow.

Hey Elizabeth - I'd factor in about $10k to get a padsplit up and running when it comes to furnishing which would include washer / dryer, additional fridge, bedding/desks, common area furnishings if you want to offer a little better experience.I'm only familiar with ATL - I think accounting for 1 move in / 1 move out per month is a good conservative assumption here.$8kish / year or so on routine and reactive maintenance combined which should include your cleanings, lawn care, maintenance calls ect. 12% per month of gross rents should be a good estimate if you want to look at it like that!

I probably wouldn't trust many of them and I'm still double checking what those who trust tell me.b.