What's up with Detroit and all the horror stories about it?

[Dan Tran]

I'm interested in investing in cheaper properties for Section 8 buy & hold, and the numbers/inventory are almost suspiciously attractive in Detroit, MI.

A lot of BP posts and threads, as well as a few google searches, warn a lot about scams, agents misrepresenting 'turnkey' properties, crooked PM companies, a slow HA office, and very high crime. 

How much of this is exaggeration? Has anyone on this forum successfully done OOS investing in Detroit? 

How relatively difficult (compared to ex. Ohio) is it to evict a troublesome tenant in Detroit? 

[Jay Hinrichs]

Detroit is no different than any other cash flow market in the mid west or rust belt.

where folks get in trouble is going for the highest returns.

on paper to get the highest returns U end up with the cheaper properties that are in the worst locations.. and these locations have high criime poor schools and professional tenants/lifers.

If you simply google the median price of a SFR ( if that's what your looking for) in the city or MSA and buy at the price point or above or maybe 5% or so lower than that price point you should do OK with those.

lets say the median in Detroit is 200k  what do you think the quality of a 80k home is in Detroit ??? just think of it logically.. you get what you pay for.

Regardless many do fine in the suburbs of Detroit where prices are higher schools are better and tenant base is better.