Rehab a foreclosure or buy a turnkey property and rent out ASAP?

[Michael Ross]

Team,

I'm looking at properties in Metro-Detroit and am debating on buying a foreclosed home to rehab or looking in nicer areas for more turnkey properties. I am in the foreign service and will be doing business from afar but I have a team of folks back home to assist. What has been your experience? My goal is to slowly grow a portfolio at 1 to 2 per year until I have 15-20 properties by the time I retire from the government at 50 years old. With the first house, after expenses, I am aiming for cash flow $150+ which I will snowball into another property. Is this a conservative/realistic expectation? 

As always, I look forward to the advice and experiences!