Was it a foreclosure, distressed or regular sale? 

Here are what needs to be done:remodel of two bathrooms to be ADA adaptableadd one regular full bathroomremodel of a 200sqft kitchenrelocate the main entrance with a new entry doorOpen up the current living/dining/kitchen area to be a great room.

The role of the local project manager would be to check out local deals prior to purchase, locate and coordinate subtrades, check up on the contractors, and look in on the property regularly and when needed. 

Christopher Phillips RJ Jackson In reality the 2% rule when achievable is usually in a war zone area or by some body (trn key provider) that's projecting income from a rental that's got a very low leverage or has most of the numbers either left out or not using real numbers.

I ran the numbers and $750k puts me in a negative for a regular rental property at marketing rent $2200 for 2 bedroom 1000sq ft. $2000 for 800 sq ft.

I will call each profession, whom I work with on a regular basis, and give them the tenant's contact information to schedule a time to work on the repair.

Most of the other houses in the neighborhood are regular foundations on the ground.

There are several regular meetings in Detroit and the surrounding suburbs.

@Russon Smith  I called my regular insurance agent (he holds my vehicle and primary home policies) and he was able to get a renovation policy through another carrier to cover me through our rehab.  

You pay regular taxes, including social security, like a job and there are not many tax breaks.2.