If you live there you probably have a good handle on the subtle market dynamics.One significant risk of buying any property out of state is that you have a lot less knowledge and first hand experience with all the nuances of that specific market.

Hello, I have a property i purchased for $165k with an ARV of $350k.

Whether it’s an offer to purchase a property, to provide equity capital, or to provide financing, I merely state the price/terms I’m willing to pay.

Specifically interested in the Detroit area as well.  

@William J Anderson you want assistance in analyzing T-12s for the purpose of purchasing a property?

I’m considering tapping into this equity to fund future fix-and-flip projects or even purchase another rental property.My questions are:Do you think leveraging the equity in my properties is a smart move for real estate investments?

Lots are just drawn to the low purchase prices, and buy based solely on price. 

A 1031 exchange would use all of the tax in the purchase of your next property.

The name makes it sound like someone that will discourage all purchases. 

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.