The house was built in 1975 and that was the standard back then.

The HOA will be taking care of most of the damage except the hardwood floors because they say they are only responsible to have the unit to original standards.

I do not know what the standard is for repayment.

@Alan McCraney sometimes quality doesn't always align with value.

The pros of keeping that one are you already have it, less paperwork, better chance for appreciation, and most likely higher-quality tenants.

I wouldn't advise buying and holding properties in war zones because they usually come with all kinds of problems like vandalism, theft, squatters, poor quality tenants, etc., but I would definitely do wholesale deals there.

I offer high quality Detroit homes with good returns.

Common practice here is that people use the standard RE contract and modify the terms by an addendum.

I've noticed that while a deal may look good on paper, it's the quality of the tenants that will drive your profitability.

I think if you provide section 8 tenants a quality product they will stay longer.