The typical income from a free and clear rental would probably be $800-1500/month - and on a financed rental probably $300/month on a good day in today’s market.  

If I sold, I think it would be by a hair that I can offload the property for the balance despite a tax value of $440,000, but it would get it off my books completely and free up my VA loan to purchase again. 

Feel free to DM me.

If I were in your and/or your mother-in-laws shoes, I would go to a local bank and use the free and clear house to secure a $150K+ line of credit. 

I have sales reps that know me, free delivery, net 90 billing, constant product updates a bullet proof warranties.

With a fideicomiso, the first $200k is tax-free when you sell.2.

That said, Detroit is very much a block-by-block city, so local knowledge is critical to avoid issues.If you’re serious about learning more, feel free to send me a DM.

If you’re looking for a straightforward, hassle-free option, I highly recommend checking them out!

Feel free to call my office and speak with me if you want to look deeper. 

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