Waiting might increase value, but your renovations could attract buyers quickly. 

Detroit's population is actually growing according to recent surveys not shrinking Census Bureau estimates: Detroit population rises after decades of decline, South dominates growth (michiganpublic.org)2. 

You have no ability to make improvements to increase the value (and benefit as the owner); you can't deduct mortgage interest on your taxes as you don't hold the mortgage; and you can't own it while the value rises over time.

These markets will rise until either a bunch of new supply starts coming on the market or there is a shift in population trends.Focusing just on cashflow often attracts people to areas where there are other problems.

I keep hearing that it makes sense to focus on markets that have strong economic and population growth, but there's really no overlap between population growth, economic growth, low prices, and low taxes.So my question really is, what's the best way to get out of this?

Further, while bringing the estate from the brink of bankruptcy to profitability, he invested all cash flow into improving the estate and diverted no funds to increasing his personal wealth.  

Taxes is easiest: seller bought property in 2004 for $260,000 and modest increases in assessed value over 20 yrs.  

But every person I know who’s moved over from another lesser CRM has increased their deals, become much more efficient and increased their profit almost immediately. 

Crime, homelessness, etc rapidly increased causing the above to directly increase as wellEverything else:1.

The shorter the prepayment term has an impact on increasing the rate.4.