This is a bit more time consuming but it allows you to find out about the area as well and make solid recommendations to your guests. 

1) Calls back within a day or 2 (Yeah we all work, don't need to call back in 10 minutes)2) Can meet within about 4 days to walk through a quote (30 mins max I don't want to be there all day unless it is an outrageous amount of work)3) Provides the quote back within 2-3 days with a solid price (not one that is going to keep jumping up, I want to know up front) If it is 15K fine I can budget that.

Then teaching my kids and nephews about the business so they have a solid foundation to begin their careers/to learn principles of finance and RE.

It's a solid strategy.

Typically 10-12%, unless you have a pretty big portfolio.What about water/sewer, lawn care, snow removal, and admin/professional costs.I bet you end up between $800-900/month cash flow, but that's still really solid!

The building is solid construction built in 1961, 11,000 sf, well-maintained exterior so not much deferred maintenance, if any at all.

Find a solid agent and get familiar with the areas you want to invest. 

Do you recommend those areas for solid ROI?

@Elizabeth Zielinski - there are plenty of blue-collar type neighborhoods that are close to Detroit that have solid tenant bases and are much lower-maintenance compared to Detroit proper.

Also identify a solid property management company while you are there.