So REOs command a much larger discount than just the cost of the fixup.

It is also possible that after repairs the units may command higher rent.

Feeder roads 16th and 24th feed into 277 and they would have to go past you to get to the school systems; so all those neighborhoods, you would command over your North/South competition.6. 

If you're looking to sell it, then you'll want to price the property accordingly as you may be able to command a higher selling price with the jump it rent in year 8.

Maybe 15 or 20 year fixed and fully amortized, though that will command a higher interest rate. 

Total 3 homes, all have no pics, and one looks bogus ($500k is probably $50k):https://www.redfin.com/city/5665/MI/Detroit/filter...Let's say you can command $100/sq. ft, that puts you right at $130-140k, which is still a great BRRRR candidate.

The property is under rented at $1K month (property can command $1300-$1350 with subsidized housing).

We stick with neighborhoods that command rents of at least $750/mth for a 3Br.

If you finance this at 3% as an owner/occupant with a 20% down payment, then you would generate an ROI in the 20% range on your invested cash.If you go with an FHA loan and much smaller down payment (as little as 3.5%, though you'd have to pay up-front and ongoing MIP mortgage insurance), then the ROI would potentially be much larger and your loan would be assumable, meaning it would help you to command top dollar several years down the road if rates happen to have risen.

This allows me to be more selective with tenants, and command a higher rent.