Later I was able to buy the vacant lot between for a grand total of about 2.4 acres.All the houses are in bad shape.

I'll definitely visit Niagara Falls.

I agree with the others.

What you do is charge the 1400 per month.

A 1031 must be for equal or greater value or the funds in excess of the value of the new purchase are taxable.

@Cole Starin sometimes it makes sense to sell the WORST property in your portfolio.Another option is why do a LOC on the duplex, when you could just do a $100k cashout refi to pay off all your debt AND keep the property?

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

So yes, you can have solid concrete walls, it's still going to burn down.I have read that worst case up to 80 million Americans will relocate in the next three decades.

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan. 

That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.