Are you planning on being a out of state investor? If so you really need to get a feeling for the neighborhoods and which area are good to invest in. Have you done any research on areas, PM's or just in the early phases? I currently invest in detroit with a few buy and holds. I would be interested in flipping also just havent found a home run deal yet.
The first question is why Detroit? Is it just because it's cheep? It isn't as cheep as people tend to think.
If you are not local I would play "Follow the Billionaires". Invest in the areas Dan Gilbert (the Quicken Loans guy), the Illich Family, and the Ford Family are investing. Those areas can be much more expensive than some out-of-towners expect.
@Keyonte Summers I do plan on being an out of town investor. I am currently planning a trip there. I want to possibly go when there is a meetup happening.
@Christopher M. thanks for the response. I chose Detroit because I have been following the market trends there and see that the city is really working on revitalizing it.
Not looking for it to be super cheap, but it is cheaper than Los Angeles and May have a lower entry barrier. Before I pull the trigger I will come to the city to make my final verdict to invest there or not to invest.