Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

We look for good school systems, low crime and desirable neighborhoods.

So the choice of tenant would be key.On the flip side, reasons to hold: a very low mortgage rate; probably not the case. 

And like many other cities, vacancy rates are still low, lots of demand for housing of all types.  

It’s just not worth it in Detroit especially with the low price points. 

That's a very low amount given it's a commercial property.

By targeting better locations, leveraging Section 8 for consistent cash flow, and balancing low acquisition costs with high guaranteed rents, you've achieved impressive results like $1,100 in net cash flow on a single property.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

@Cory Prior There are ways of doing low-money down strategies.  

If the Transunion report verifies everything, and they meet my other criteria (credit scores, proof of income, background and eviction checks...) then we are good.In my 15+ years at this, I have found a very strong correlation of credit score and tenant quality.