If the leases end up in the realm of where we believe they will the value of the building will go up a good amount and we will have close to 1 million in equity.  

There are plenty of investment opportunities in the Detroit area as well which have the potential to offer immediate value, so I would weigh your options with care. 

This is a reposting of a previous postI value Matt Scott's commitment to help me in with my success.

Conventional financing How did you add value to the deal?

Find someone who's doing what it is you want to do in the market you want to do it in and bring them value to learn.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Connor ChatlosDenver and Chicago's high property values make multifamily properties ideal for house hacking.

My approach balances both—ensuring that my investments generate income while also appreciating in value over time.

You aren't necessarily building that much equity (cost of building exceeds the value) but it is a third option that is a hybrid.Another factor is location.

Once a complete loss mitigation application is received, the servicer must review that application before starting the foreclosure process.""