It could appreciate but I consider that gambling.

We are obviously very spoiled with the gain we have built up in this property, we were very lucky, at the right place at the right time, gambled spending a lot of savings to make this happen and have put a lot of physical sweat equity in over the 4 years.

Something as simple as setting door lock codes can be outsourced to an offshore VA at $4/hr.

I budget 25% property management expense in my properties financials, and pay our in-house property management company 25%.I’ve hired inexpensive offshore PMs who work US hours & speak eloquent English.

The pics are from years ago when the property was actually nice and livable.Unfortunately without someone who knows the city areas well, it's a huge gamble to invest in Detroit.

I work offshore but when I'm off I'll come work helping you flip houses in different exchange to learn.

You can always gamble that you won't get caught, but if you do, the penalties & interest charges can be substantial.

Maybe one day when I have a million to gamble with, I'll move up.  :-)Bill Gulley

They have 7 years to refinance the property and cash out the mortgage holder, so they are gambling that prices will be back up in 7 years so the property will appraise for 235k and they will clean up their credit so they can qualify for a loan.

I understand I would be taking a gamble by spending the extra money for some items now with the risk being I may not be successful at re-zoning.