For cash flow-focused investments, consider neighborhoods on the west or south sides, like Speedway or Southport, but be mindful of local market trends and tenant quality.

This is exciting to meet local like-minded individuals.Looking forward to connecting.

If the answer is no, be mindful this will create a more difficult sale when exiting the position down the road. 2.

Quote from @Drew Sygit: @Aaron Raffaelli we're also in Detroit area, so let us know if you need help with anything.Edit to my last reply:I just a saw your post from yesterday talking to someone about the Classes you can expect around detroit, and that did help me get a better understanding, but it did bring a new question to mind. 

These are questions that have stayed in my mind through every episode I've listened to.

Exactly, I have that in my mind and thinking of 2 weeks time.

And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

My purpose behind my decision to pursue REI is to gain financial freedom for wife and I, my future family as well as have the ability to make sure my parents are well taken care of once they reach the retirement age.If I had to label myself I’d want to be known as an open minded rental investor for all long term, mid term and short term investing, with the occasional flip for quicker capitol to put back into another rental.

Piece of mind?

Not sure when you purchased the property, but keep in mind conventional loans require 12 months of seasoning before you can use the appraised value for a cash out refi.