Ideal SFH property configuration

[Rajpuneet Singh Sandhu]

I am looking to buy a SFH as an investment. My realtor strongly recommends looking for 1000+ sqft with central cooling, 3 bd 2 ba, as according to him this helps with keeping the tenant turnover rate. I agree with this but then the pool of properties in the class B neighbourhoods (also, which are a little away from Detroit) becomes very small and also the price becomes higher. I would appreciate if some experienced investors could share their thoughts on this information and if there is some more information that I should know. Also, what should be an ideal price point that I should be aiming for in these neighbourhoods. Thanks in advance!

[Drew Sygit]

Quote from @Rajpuneet Singh Sandhu:

I am looking to buy a SFH as an investment. My realtor strongly recommends looking for 1000+ sqft with central cooling, 3 bd 2 ba, as according to him this helps with keeping the tenant turnover rate. I agree with this but then the pool of properties in the class B neighbourhoods (also, which are a little away from Detroit) becomes very small and also the price becomes higher. I would appreciate if some experienced investors could share their thoughts on this information and if there is some more information that I should know. Also, what should be an ideal price point that I should be aiming for in these neighbourhoods. Thanks in advance!

 How many rentals does your agent own?

Where are your agent's ROI calculations - do they even know how to do them?
Cash-on-cash calculation?
Current vs ARV?

What's the lowest percentage of listing price your agent is willing to submit an offer at?
EXAMPLE: List Price $200k, will agent offer 90% of this? 80%? 70%? 
Many agents will claim "professional embarassment" and NOT want to submit low-ball offers.

Regarding sq fts, beds/baths and amenities - they depend on the area, market demand, etc.

Ann Arbor is a VERY expensive market for rentals. 
Are you looking to do Student Rentals?

If you're in Novi, it'll be cheaper, and easier to hit the 1% Rule, if you go east or south.

DM me for more info:)