I would like some opinions on my situation.

[Chris Bennett]

I wanted to ask everyones opinion. I bought a 130k mp house when I was 25 in 2005 for a 115k, I did not buy this as a rental, but a place to live and fix up. Since then as everyone know the market tanked and came almost back to what it was. The lowest I saw the value was 77k I was watching the price cause I out grew the 2 bedroom house. I have spent around 50k in repairs and upgrades while living in it. literally almost everything is new plumbing, piping, ductwork, electrical, roof, insulation, drywall, windows, doors, furnace, hot water heater, sump pump, ac, exterior paint, hardwood floors, kitchen, bathroom, water softner, patio. Although i Realize now, i may never see a good return on investment in this place, but i put too much into it to sell it for 120k. I moved out and am renting it out for 1200 544mort, 208 taxes (sewer assesment), 73 for insurance, 120 maint, 120 vacancy, 17 hoa, leaving me 118 for capex and cashflow. Id like some experienced investors opinion on the situation. Am i setting myself up for failure with little to no cashflow, if the market tanks again and i have to lower rent i will be in the red, but selling at this point i would be pissing away the 50k + all the interest ive paid over the 12 years. what do you guys think?

[Chris Bennett]

Michigan, was hit really hard, there were parts of detroit that looked like 3rd world countries. They put all their eggs in 1 basket the auto industry. Detroit actually went bankrupt in 2013 20bil in debt. I live an hour from detroit, but prices have been on a steady climb since 2012. So my value is not depreciating it just took longer to rebound then other places. I work in detroit and see office buildings going up by the dozens all along the way. So I think they learned from that crash and got more industries here. they are pumping billions in the downtown area of detroit new stadiums, Microsoft has a new building, people are actually vacationing to detroit now, which seems absurd to me but... Anyway my point is I believe my value will continue to go up. The last 2 replys are the reason I am wrote this post in the first place, cause my mindset was starting to lean that way.