Hi @Steve Candor Not sure how things work out east but here (Twin Cities), you'd start with zoning. 

If its something you can get a handle on that might work out of area those are usually disastors

The property is in oak park as opposed to Warren and you're right, it does work out slightly better to get paid even with late fees.

It would make a poorer investment but a better family experience and with the extra boost of being an OO it can likely still work out pretty well for you.

If I can work out the owner-finance part that would make my debt-service on the property about $300/mo and I should cash-flow about $150-200/mo on it.

You will need to get better than 0.75% gross return (not accounting for selling cost) for it work out.

That way down the road I will know what to expect from a good PM, and if the unit finds its way on the sweet side of the 80/20 rule, I may keep managing it.I plan to use a yard sign and craigslist to garner interested parties, phone interview to cut out people who are not a good fit or are not qualified, and show the unit by doing an open house or two per week with applications on the counter.Good luck with the tactics you end up using, and please update the post on how they work out for you!!

If the bird dogs buyer doesn't work out.

It doesn't always work out that way, but it is fairly common.  

The 97 bucks may be worth it to take some of the guess work out of it.