Would appreciate feedback/thoughts on next steps on Sell vs Rental approach.Looking at the very high monthly exp/rev ratio, it seems I should sell, but want to make sure I'm exploring all options.

@David Vu have you explored the sub to community?

Explore financing options, educate yourself on multifamily investing, network, and document your journey.

Might be worth exploring - I can't say for certain, though - my experience is limited here.

I would explore your options for other sources of capital such as a HELOC or private (hard) money. 

Evicting the tenants and moving in to perform repairs myself while I explore Detroit, as I have never been there before, but this process might take a long time.I would appreciate any advice or insights on how to proceed.

Plus with HELOC's you can only pull what you actually need and pay it down/pull the cash out as you need it.Dan - I agree with others about exploring a HELOC first to pull out some equity as opposed to refinancing.

I am exploring the possibility of not only fixing things but doing a renovation to bring an old half bath into a fully functional bath, renovate the entrance and foyer among other things and possibly even an addition to the house.

I’m particularly interested in exploring opportunities in the Raleigh/NC Mountain area and am excited to connect with like-minded individuals who share similar goals.I’m looking forward to diving into the wealth of knowledge here, sharing experiences, and collaborating with others who are passionate about real estate investing.

Leverage $120K cash for down payments and explore financing options.