It seems like interest rates would be lower and the process more standardized.

I currently work a standard “day job” in an office (actually located in Wilmington, DE), however my goal is to begin to generate and build my wealth in other avenues outside a typical paycheck and become more financially independent/free.

@Rassan Sampson: Sorry to hear about your challenges, but pretty standard for Detroit.

None were reported nor discovered during inspections as the tenant did not permit the PM to enter the unit [now we know why].

It went fine, depends on your company but mine allows the standard up to $50k loan, minimal paperwork, 2-3 business days funding and only a $100 admin fee.

That being said, if you can find an older property in a stable resort close in to Disney, and redecorate to a high standard, you have a great investment property on your hands.

@Wesly Aldrich looks pretty standard and reasonable. 

I guess it depends on your standards.

As you go up in price rents detach somewhat from the 1% standard, but you pick up a little extra principal pay down and perhaps also appreciation potential. 

In order to succeed however you will need to invest significant time to educate yourself and if you want to be the best you will need to hold yourself to a very high standard.