The irony...the party of tolerance being intolerant. insurance is always a bouncing ball.. my insurance in Lake Oswego and we have no fire risk other than normal No weather risk  just risk of winter gloom and depression. 

I may be coming back here asking for other recommendations.This post is mainly to see if there is someone who is familiar with the real estate conditions in Wayne County who will share their thoughts with me. 

These are individuals who are already conditioned to take on greater risk with the hope of a higher reward outcomes and will be attracted to the potential of syndicating real estate deals.Despite the greater risks associated with their current professions, I am sure most if not all are involved in businesses with  greater than a 2-3% success rate.

So the justification is, the price is really cheap when compared to what I can get close to home.In reality, this particular property is not inexpensive for the area it is located and the condition it is in. 

.), existing site conditions (high ground water, site topography, existing soil types and soil environmental concerns, etc.), the location, depth, and capacity of utilities to service the site - including public utilities (sanitary, storm and water services), franchised utilities (power, gas, cable), capacity of the local streets to accommodate additional traffic from your development...Be sure to find out if there are any specific local ordinances you need to satisfy (possible tree & wetland surveys, together with any necessary tree & landscape or wetland mitigation plans) and whether there are any concerns from municipal departments (e.g. hydrant locations from the fire department, storm inlet and retention requirements, as well as asphalt / concrete road requirements from the engineer), entrance requirements from the road commission (left turn and passing lanes at the site entrance), etc.Once you get past all this you can finally prepare a preliminary site plan and enter the political arena to get preliminary site plan approval, and to address any concessions the board and neighbors want from you to overcome their objections to your development.

If your town has tourism appeal, converting to STR could potentially increase your returns.There's also reasons to consider selling:Market conditions: Michigan's real estate market has seen significant appreciation in recent years.

Asking price: $399kRehab: $65kARV: 570k The roof was replaced in 2024, the water heater in 2019, HVAC in 2019.The house looks to be in good condition..., but will need some cosmetic repairs. 

When buying FHA the property needs to be in good condition.

@Vincenzo Peter ManzellaTell them the condition of the property is a lease violation and they need to clean it up.

Because his credit was good and the property was in a desirable area, not value wise, but living condition wise, he got 90%/100% financing on project 1 which is pretty good.