What is a good area to invest in or around Detroit that would yield  good cash on cash returns( long term, midterm, short term rentals).

You can also consider installing solar collectors to heat your water, which can reduce your energy costs in the long run.

You will benefit yourself far more in the long run by networking locally and finding a seasoned real estate agent/broker that specializes in working with investors, both building and liquidating portfolios. 

I'm desperately searching for a financing option for my spec homes that will give me better terms than the 10-12% interest plus $10k closing costs that my current HML is giving me.I tried doing buyer-financed, but they haven't been selling very well (although I really haven't waited long, I'm just impatient).

In the past I have purchased properties that were zoned commercial, however I have purchased them with the intention of being long-term buy and hold residential rentals (multifamily 4-plex).

Ever since first discovering real estate investing over a year ago ( has it been that long?)

Whether you target B & C class neighborhoods for immediate cash flow or explore up-and-coming areas for long-term appreciation, the city has something for every investor.

Here are the details:Lower Floor: Already functioning as a separate unit with its own meter, entrance, and bathroom, currently rented to long term tenant who would like to stay, post-sale.Main Floor: Has its own entrance with immediate access to an upstairs.

Whether you target B & C class neighborhoods for immediate cash flow or explore up-and-coming areas for long-term appreciation, the city has something for every investor.

Long term it probably doesn't though.