Just take out $60,000 from the property, reduce your cashflow & ultimately pay WAY less in interest.A Cashout Refinance is sitting around 7% while Credit Card debt is sitting above 20% on average.I know far too many people who regret selling real estate looking back 20 years, but I've yet to come across one who regrets keeping it.

I'd look into sound reducing alternatives before you throw the baby out with the bathwater. 

With ongoing improvements to public services, transportation, and commercial developments, Detroit is positioning itself as a thriving urban hub—making it a prime location for real estate investment! 

.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

I suggest focusing on properties that need cosmetic work in order to reduce overall risk, while keeping access to a good ARV.

A trust transfer allows for smoother estate planning, and if inherited after their passing, the land receives a step-up in basis, reducing future capital gains tax.Each method has pros and cons depending on their estate plans and your long-term goals.

If you go this route, be aware that you’ll lose payroll deductions—so you’ll have to track contributions on your own (see IRS Publication 969 for HSA rules).2.If You Own a BusinessIf you’re running an LLC or S-corp, you might be able to fund an HSA through that payroll.

Would it make sense to reduce risk and use his connections first and invest it that area?

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

Its great that the seller is will to carry a note in a seller 2nd as well, that will help reduce your require monthly payment with the right lenders.