There are almost no exceptions to this, so it's not even worth considering.

Key Factors for a Good Seller-Financed DealCash Flow: Rental income should exceed monthly payments (PITI) by at least 1.25–1.5x.Purchase Price: Compare to ARV and market value for fair pricing and equity potential.Interest Rate: Aim for competitive rates; higher rates must still allow positive cash flow.Amortization/Balloon Terms: Favor longer amortization and align balloon payments with your exit strategy.Down Payment: Lower upfront costs reduce risk but should meet the seller's expectations.Flexibility: Seek no prepayment penalties and fair late-payment clauses.Property Condition: Ensure the property’s condition matches terms through inspections.Seller Motivation: Assess the seller’s willingness to negotiate favorable terms.Exit Strategy: Have a clear plan for refinancing or payoff at term end.Portfolio Fit: Ensure the deal aligns with your financial goals and risk tolerance.Vetting multiple deals and consulting professionals is crucial to making sound decisions.

Inconsistent Cash FlowUnlike traditional jobs, real estate doesn’t provide steady paychecks.

I personally would not invest in detroit as historically its not a appreciating market and for cash flow and I invest primarily for appreciation - I go off the location location location mantra. 

So my question is, if you were in my shoes, where would you start if you had $150 cash with good credit?

@Kevin Hintz It's property dependent, obviously, but last year, I sold one a street back from the beach that they're cash flowing.

.- >65K in rent collected- having someone to bring in Amazon packages when it is raining outside- generally having someone to watch over the property when out of town oftenI think the headache is worth it.

It cuts turnover and keeps cash flow steady, softening the blow of review volatility.

By "Tax Loss" I mean that it is likely that without depreciation your property is cash flow positive.If you Materially Participate in the management of your portfolio of rental properties, that loss will be treated as Non-passive, and will flow through to page one of your Form 1040 tax return.  

If I have some cash do you recommend clearing the loan or invest instead for next property with proper planning ?