Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $165,000

Cash invested: $20,000

I bought a duplex in Racine that needed a lot of cosmetic upgrades. Both uni...

On the 15th year, the investor and I will discuss together whether we want to sell the house OR continue receiving cash flow.

Pros: the cabin will be able to house our entire family, easy process to refinance.

Toxic paint et al.Would you want your family living in house remodeled with cheap Chinese s**t?

As far as your next property, if you are already considering moving you will get better loan options + interest rates if you decide to live in the next property and rent out your current house. 

They are trying to rent a house they do not own. 

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.

If you don't pay off the loan, you lose the house, the seller gets a foreclosure and you probably get sued.

Since you’re already networking and have some good realtor contacts, focus on narrowing down your investment strategy (like buy-and-hold or house hacking) and target markets with solid cash flow potential.

I have done some research on ADUs and have come to conclusion that getting a house near a hospital or good college area with a big yard to add an adu and convert gargae to junior adu would be best.