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Single-family landlords sinking cash into Rust Belt rentals

85 per cent of the homes sold in Detroit last year were purchased by investors

The combination of low prices and optimism about the local economy has made Detroit popular with property investors.

New York

AL BEAHN was a 22-year-old college graduate living in his parent's basement in the Detroit suburbs when he bought his first investment property in 2009. It cost him US$27,000 and he flipped it three months later for a US$16,000 profit. Today, his company, Pioneer Homes, has...

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