It's the concept of buying the debt attached to the mortgage rather than buying the house. 

Or paying off my debt, while I provide them with a nice house to live in instead of an apartment. 

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

You do realize how you got the house right?

If my stories scare them (and they often do), they should NOT be investing in Detroit.But I'm equally tired of the narrative that these sorts of houses don't work as cash flowing investments.

The house is worth at “quick sale” about $360,000.  

Buffalo, New York, has once again been named the nation’s hottest housing market for 2025, marking the first time a city has held this title in consecutive years.

At another sale, a farm house was to be sold. 

@Joe Villeneuve around 300K of equity in the houseSell the house, take the equity, spend it or use it on your next house where you are moving to. 

He owes 650k house is worth about 1.4M, however, he only needs 300k.