With that equity and a 2.75% rate, you’re in a strong spot.

That said, I’ve had better luck and heard good things from other investors in spots like West Park (Kamm’s Corners), parts of Old Brooklyn, and even Jefferson if you’re looking for C/C+ areas with solid long-term tenants and not too much turnover.

People who did it wrong and weren't able to execute.If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Would love to find a place central to those 3 spots that I could rent nightly when I am not there.

John is spot on. 

CRE lending and bank exposure is in a rough spot right now - lenders are pulling back on leverage and risk across the board. 

@Derek Wilson Nice job on the STR—sounds like you're in a great spot to level up into multifamily. 

Many auction wins require you to come up with cash immediately – often a cashier's check on the spot or within a few hours for the full amount or a substantial deposit.

ADU has potential for two garage spots and a upstairs unit. 

Northside has a more artsy, hip vibe and attracts young professionals; rental demand is strong there, but you'll want to be selective since it borders a few rougher spots.