First, there are small grammatical issues with their website that could indicate it might have been built by someone whose native language isn't English. 

As you indicated, make sure you leave something in the plan for contingencies (absolute minimum of 10%), and keep in mind the cost to hold during the time it's under construction and being marketed.Make a plan, check it twice, and decide if it's worth the effort. 

Can you show a single building permit from any time, ever, that indicates Goodin Development has ever completed or is working on a permitted project?

The problem comes into play when those milestones are not good indicators of one’s progress towards a goal.

I'm starting to hear more chatter about this mysterious "wave of foreclosures" that was a frequent claim/projection back in 2021, which didn't happen then, and by all indications is not going to happen now.

.• As indicated in the earlier FinCEN alert titled “Notice Regarding National Small Business United v.

Personally I'd invest in other affordable-but-growing markets in the Midwest, which are currently seeing greater price appreciation and job growth than Detroit, while still having decent cashflow potential.But the Detroit MSA had its first population increase in decades this year, indicating Detroit has "bottomed out," and will only continue to grow from here on out. 

For instance, depending on your location insurance costs could be much much higher than indicated in the book, construction costs are a lot higher, etc. 

If this concept is unfamiliar, then continue to ignore it.In closing: The dangers of shifting the timing of your income, expenses, and business transactions.A purely mathematical exercise may indicate some beneficial timing for this or that.

I found this fact sheet which seems to indicate it would be possible to evict the rent stabilised tenants so long as they haven't been living there for more than 15 years or are older than 62 or disabled: https://hcr.ny.gov/system/files/documents/2020/10/fact-sheet...