What am I missing in Detroit turnkey?

[Frank Inman]

I've reached out to a few realtors and was given a list of turnkey properties. A few caught my eye with the description of for sale $30,000, rents for $800 long term tenants, good payment history, fully rehabbed in 2013... Ok, so what is the catch? 

[Joe Villeneuve]

Originally posted by @Benjamin Timmins:

And the neighborhood. Detroit is a war zone.

 Not all of Detroit is a warzone.  Much of it isn't.  Maybe you should do a little more than read the papers.

Having said that, I don't invest in Detroit, but not because it's a warzone...it's because the price of homes are too low to get my cash back out of it fast enough to keep my funds moving forward.  I have to recover them through cash flow only.

$30k of my cash in, and only $800/month back ($9,600/year) means I have to wait more than 3 years to break even.  I don't wait more than 1 year (or less).  Cheap to get in is great, but too cheap isn't better....it's just misleading.