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

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

there are ways to get around the highest and you also need to take into account the savings you will generally have on the purchase side when compared to other regions. 

Specifically interested in the Detroit area as well.  

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

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.

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

If the lease was not provided during due diligence, then this one is on you and your agent, which should have been stipulated within the purchase and sale agreement.

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