I would have to get with the property manager and mimic the exact plans they have set up in the lease, all of which were probably customized by the PM to get a few extra dollars.  

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

Do you see Nike cold calling customers or driving for dollars?

While less than 10% of the mortgage industry offers 40-year mortgages, here's something to factor in: they often come in with a rate increase of 20-35 bps.Assume 35 bps.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.

Strong rental demand: With major employers like the Cleveland Clinic and University Hospitals, along with a growing arts and culture scene, Cleveland attracts a steady stream of renters.Revitalization efforts: Many areas of Cleveland are experiencing significant revitalization, which can lead to increased property values and appreciation potential.I can't comment on the Detroit market specifically, I have never been and have never done any research on it!

Unfortunately, Covid decided to change my plans, and I made the decision to hold off, in hindsight it was a huge mistake and no one could have imagined that property values could have increased at such a high rate.

Putting that amount into it will only increase the loss.

So what kind of property would it take for you to increase your cash flow by $2000 - $3000 a year. 

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....

I'd underwrite the property, with that low interest rate assumable mortgage, to cash flow positively from day 1 as a long-term rental, but be willing and able to use the rent by the room strategy or to rent out part of the property as a Short Term Rental to dramatically increase cash flow during my occupancy.