-Setting Criteria: Defining specific criteria such as location, property type, Financing Options (Including Seller financing), and comfort level to narrow down options.a.

Define lowball.If it's a $380k house, I'll throw a $325k out there depending on where I'm at.

It's been rezoned to allow a live/work component, allows 4 units, and the FAR allows room for plenty of additional SF. 

Your investment may be impacted by regional laws, difficulties with property management, and market fluctuations.Considerations:Personal Preferences: Evaluate how comfortable you are maintaining a property locally as opposed to overcoming the difficulties associated with investing out of state.Financial Objectives: Clearly define your long- and short-term financial objectives.

You will need a lawyer.You will need an appraisal.You will need a home inspection.You will need title insurance.You will need a contract with the Seller.You will need some sort of partnership agreement if not a bog standard common law agreement as defined by your state.You will need a survey.You will need to heed the advice of the attorney in whether you need any other documents, and in what any document must provide for.You will need to have in your above documents what happens if you don’t like what is revealed or if there is a failure to get a document.The presence of a real estate agent is irrelevant to those things.Do NOT focus on saving the commission.

I would focus on defining my goals first.

Check out some of things happening in Detroit in 2024:https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/Your first question shouldn't be WHERE to invest (that is #2 question), but HOW you will invest!

One key piece of a cost segregation study is identifying the land value of your property as it helps you be compliant with the IRS and maximize your deductions and tax benefits.When you purchase a property, the purchase price includes the value of the land, buildings and the components.

Seems that a lot of guests do expect a dresser, at the very least for the practicality, and even some guests who consider it an aesthetic component as well. 

I can consider being a little more aggressive with a 401K as I have a defined benefit vested pension as well.Personally I wouldn't do it for a flip, but would consider it for a dividend producing (i.e rental income) property I would hold.I also wouldn't cash the whole thing out.