Austin, the critical first question that every investor needs to answer is WHY am I investing in real estate?  

(I get criticized every time I point this out but) The $218,000 you are putting down would provide a better than $10,000 PER MONTH positive cash flow in Detroit and Detroit suburbs without taking on new debt.

Appreciation is critical to building wealth in real estate and without it, building a large rental portfolio is a much slower process.

Anything is fair game...criticisms of the area, check...of the cost assumptions, check...criticism of taking it right off the MLS, check.Thanks,Chaz

What's critical is to pay off the debt within the intro time periods.

REI is a great form of wealth building, but the first deal is CRITICAL to your future growth.

The better the comps (very similar properties, very close by, and very recent), the higher your confidence level.Needless to say, getting ARV right is critical...because everything else is based off of it.I recommend seeing if you can get your hands on some old appraisals to better understand how a licensed appraiser determines home values - an appraisal is the gold standard, so why not model your method off theirs?

Some constructive criticism: in your question, it sounds like the tenant is telling you what to do.  

Early on, it's critical to document your assumptions until your ballpark estimates are pretty accurate.Hope this helps.Rick

Marketing is not just about posting the property's photos and information on various marketing channels, they must also follow up on each lead and get potential clients into the property and get them to submit completed applications.Prospective Tenant ScreeningProper tenant screening is critical to finding good tenants.