It may not cash flow well purely as a rental, but if you consider the savings on your living expenses as extra cash, then your cash on cash would be through the roof compared to other properties.

Reach out if you are looking for a property manager, we also offer renovation services but purely as part of our management...if my business has any weakness currently it’s providing prompt bids for rehab for overly damaged properties for new owners :)

One strategy discussed in the book  that is a pure SPECULATIVE and not INVESTING is securing the right to purchase a condo or townhome in a small development prior to construction and then selling your unit once construction is complete with the thinking that once the structure is standing, a lot more people will be interested and you will be able to sell for more than the purchase price. 

The sale is already done and the redemption is purely one last ditch effort/opportunity to take the property back from the foreclosing entity/buyer for the amount that it was foreclosed on and nothing less.

This was before online marketing and bandit sign popularity...Just pure hustle and desire to succeed.I currently have a website, facebook page and other networking platforms that I market on.

In Portland I was talking with a Lux builder and he said it appears the floor on the lux moved off of highs by 10% to get sales this fall ( he has two in contract)  so 1.5  sells for 1.350.. but in those markets that all pure profit he is losing.. but still making money.. 

Also have excellent credit, although that does not seem that important anymore. lol If your net positive cashflow from the rentals, using the post-refi mortgage payment not the current one, is 2.5x your personal housing expense and you have no consumer debt (such as if you pay it all off with refi proceeds), there's a chance it could be done based purely on the rental income, as a Fannie loan.

Agree with you completely- there are similar and better returns out there for an out of state investor - without the headache.Don't get me wrong, There are many experienced local players doing very well in Detroit and I have met a lot of them- but I have become convinced that the kind of things that they are doing, cannot be done long distance.Investing in Detroit I experienced things that were totally off the playing field for me- Just two  examples of many:  a home that was tenanted (by my PM) with what I later discovered  to be convicted criminals with federal tax liens on their assets and no ability whatsoever to pay rent, or a different management company that through pure negligence allowed a cash flowing Sec 8 property to go into abatement , thereby losing the tenant and then simply resigning from the job leaving, me to try and clean up the mess and costing me thousands.

I don't know one person who has invested in these markets that did so on a pure cash-flow basis over the past 5 years.

@Matt Shields ,Quit-claims are regularly used for estate planning and other purposes, and I think it would be tough for a bank to truly clear the "due on transfer" if it were fought, if those were the pure reasons..