But if you're going to invest within the city of Detroit, do your homework and work with someone who knows it on a street by street basis.

Looks like you did your homework already.

@Chris Haas - back before we heard all the 'rules' we just did the math.

Seems the South Florida market is so heated I either face a bidding war the first day a property goes on the MLS, or I end up getting the short end of a stick making bids on properties where the listing agent already has an inside buyer.I need to look for other ways to find properties, so I am going to give foreclosure auction a try.There is one property, which was a short sale, one I was interested in, but went under contract while I was doing my home work...and now apparently the SS fell through as I noticed it's off the market and there is an auction for it on 9/18.

Do your own homework.

I'd rather meet that criteria with a vacant property at closing than have deadbeat tenants in an less-desirable property.If you don't rush into anything, and do your homework, you will be able to find both

Looking at the math I get why it's a great investment, so now it's down to the details.

just purchased a condo from them last month.everything went well.i do suggest you read the contract and addendum (if there is one). if the language is not clear enough for you - use a pro (lawyer or real estate agent) to assist you.make sure you do your "homework" before bidding , it seems like it is "buyer beware" with them.Good Luck.

My fear is I'm TERRIBLE at math & no studying in the last 36 years, but I know you are right.

Would have been easier if you were living there,but if the move was forced you'll have some leverage.Otherwise its a math problem.