Thinking about investing in Detroit Michigan. 

I think you will gain a lot there. 

I am perfectly fine holding X amount in real estate.If I do see an opportunity another option is to lock it up and sell one of my existing if I think this property will perform or appreciate significantly more.

If he bought this property ages ago for $33k and it is only worth $50k now, I just don't think that the juice is going to be worth the squeeze.

Good question, they seem to be all over the place depending on the area and I am not an insurance specialist, I think typically 1.5-2x normal rates but I could be off by a bit i have been honing in on White Hawk if you know that development and its in the pines but it does have water system with hydrants but volunteer fire department ..

Quote from @Peter Walther: I think you'll find most, if not all title insurers, will require the DIL to be dated and executed subsequent to default in order to insure. 

I think you’re under a misconception that’s leading you to think you have options you don’t…You say it’s worth $1.1M and you’d net $500k.

They are going for bigger fish than you (I think) but this would be an instance of something that opens the door for that for you.  

Which makes me think it’s a smaller operation.

@Jason Weidmann what do you think of every agent responding telling you to go, go, go!