For all methods you would want to find a market that has strong employment rates, strong income rates for the market, and is a growing or an established market. 

You should be able to get up to 80% LTV on a rate term refinance.

From all the news about Ontario it seems like rents are dropping.

My question would be is a 6 cap the going rate in the area for that building.

Understanding the interest rate, loan maturity date, and any prepayment penalties will help gauge urgency.3.

If you sell, it will cost you a lot of $$$ Plus, you best asset is the interest rate.

Hi Mattin,As we’re already chatting via DM, I’ll keep this brief, but I wanted to drop a note here for anyone else considering Detroit.

I’d like to refi the 3 unit if rates drop a point. 

You get a Capitalization Rate (CAP Rate), which equals your annualized return by dividing the Net Operating Income (you had gross in your narrative) by the purchase price.

Back then, the market was more stable, interest rates were below 4.5%, and distressed properties sold at significant discounts.Today, distressed properties often sell at a premium, and cash-out refinance rates are above 8%.The best BRRRR deal I can find today involves buying a property with cash, investing in the rehab with cash, pulling out 75% of the ARV and breaking even on rent and mortgage.