@Aaron Mohammed Thank you! In my opinion, Detroit is already coming back! I've seen some very big companies move to the city and my house has appreciated an amount worth mentioning! I was reading the case-shiller (corelogic) report the other day and It said that Detroit housing is up 16-point-something percent in just one year.
@Jamie K. A lot of listings in Detroit don't have pictures but I think you're looking at the wrong listings, there are a lot of beautiful homes in Detroit going for 50, 60, 70K and up. There are many neighborhoods I wouldn't even throw a dollar in, but Detroit is a huge city and people sometimes generalize due to these neighborhoods. There are a few neighborhoods that are very nice, beautiful homes inside and out, and definitely worth an investment, in areas like Bagely, University district, etc. University District has the lowest vacancy rates in the city because it is a really nice area and home to the University of Detroit-Mercy. To see such houses you need to find a local Detroit real estate expert/company who is willing to drive you around and show you these homes from the inside and out.
