Because I have another investor on this project and I have to pay him out of the profit, and also is it possible to get a pre approval letter before selling my investment property because it throws off my debt to income ratio, but it's an investment property that is meant to be sold.

I generally regret throwing my email out to wholesalers though lol.Also curious what you're looking to do in Detroit.

You have to live somewhere.You may need to lower your return or cashflow expectations so you can get into a house hack that will allow you to avoid throwing rent money away every month.

It really does depend on the numbers but I would personally rather be paying down my own mortgage than throwing money away through renting a different property. 

I will say that if you are buying your own home or rentals, its a nice amount to be able to apply to your closing costs, and most firms give you a few "free" transactions like this is a year where you don't pay a split for personal purchases/sales.Being able to have a license and throw offers on every and anything you want is also extremely useful.

@Erika Caba I think if at the end of the year when you can evaluate the situation as a whole with everything taken into consideration and are looking at your tax returns if your goals have been accomplished with this building, whether it’s positive cash flow, off setting W-2 income, whatever, then I’d say it’s too early to throw in the towel.

I would love to throw out an idea on how you do that.

I am in the infancy stages of my due diligence and I definitely plan to do more background research before I start throwing out offers. 

So it's hard to just throw you a few zip codes and say, this is the zip code to buy in.

Don't throw away your snail mail and pay attention to the "promotions" tab in your Gmail, including the ads.Sometimes the best credit card signup bonuses are targeted (both paper mail and email) and will result in more bonus points than the offers you can find online.Also, if you have a Chase bank account but you don't have one or more of the foundational Chase cards (Freedom, Sapphire Reserve, etc.), walk into a branch and let them know you're looking to open a new card.Branches and bankers are obviously evaluated based on their ability to open new accounts, and they may be motivated to give you a special offer.For example when my wife got a Chase card she got double the sign-up bonus in-branch than what was being advertised online at the time.If they present you with just the commonly-available offers, let them know that you'll just open it online because it's easier and will result in the same bonus anyway.If it looks like you're going to walk away, the banker may be able to give you a better bonus in order to not lose credit for your account opening.Of course they may not have the authority to do so but it's worth a shot.