Dennis, Charles is deep into due diligence on his own apartment deal, and as a CPA he's going to be a lot more comprehensive in his financial analysis.

If you proceed to buy it, make sure you have a comprehensive inspection.  

@Daniel Haberkost@Dennis Cosgrave@Mike McCarthy thanks for the tips.. i'm just thinking..I may give a try in building some small tool like a utility portal to show all the utilities per door and household and to just set alerts if it ever goes overused.

- A 6-plex apartment complex with a ~500k price- For rental purposes, I would not occupy- This is my first home-buying ever ( I rent myself)- My credit is Excellent (750+) and salary is 100k+ range (household 200k+)- I can put in 10-15% downThanks for the help.

Which one has the most current and comprehensive data?

However, we use only month-to-month rental agreements, which makes it easier when adjusting the make-up of the household.

I absolutely believe that real estate investing can provide a consistent source of long-term wealth that can sustain you and your family through retirement, college, and more.My ultimate goal is to provide families and businesses with streamlined, comprehensive real estate investment strategies.

IDK, what pricing you are expecting in rents but median household income in Michigan is $54K = $170K for home values or $1500/mo for rent. 

I am a LL with a large portfolio of Detroit SFR rentals.It is not a Civil issue anymore it becomes Criminal intent on your part.I can go in-depth on the various scenarios (with experiences picked up over the last 7 years investing on Detroit) but would not wish to as it is a different topic on it's own right.Hence, Sorry but just take this experience on the chin and go through this eviction like a Landlord would do.For the next tenant, follow a regimented Screening process: 1) Check the 36th District court for past evictions & money jugements (LT issue and GC issues), if it is under 3 years avoid the drama and move to the next applicant.2) Previous Landlord verification - call and speak to them (run the Landlords name if you have MLS access against the ownership records)3) Employment History and Stability - 3 times rental income atleast. 4 times if it is under household share.4) Credit Score - a Good indicator but take it subjectively as a Low Credit score is not an automatic refusal.

Here's some detail:Affordable housing criteriaRent is affordable to households making less than 60% of Area Median Income (AMI).