Not only does it have excellent potential as a house hack, but it also offers significant upside for a live-in flip.

Let’s connect and chat about potential opportunities—I may have some suggestions that could align with your goals!

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Our vision was ambitious, and we were optimistic about the potential returns.

Detroit offers solid cash flow potential, a relatively low barrier to entry, and the market fundamentals are improving with a growing population and significant investments in the city.Since you’re based in upstate NY, Detroit is also a quick and easy flight, making it easier to visit and get a feel for the market if you’re considering out-of-state investing.

Pick one with value add potential.  

Experienced investors typically value properties like yours by analyzing cap rates, cash-on-cash returns, and income growth potential.

Since you haven't received the funds yet, you cannot claim any loss for 2024.If you receive the 10% return of principal in 2025 and the investment is officially terminated or sold at that time, you could potentially claim a capital loss for the remaining 90% on your 2025 taxes.

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

My concern with declining values, increased inventory and a weaker economy would lower rental income and could potentially put me into a negative cash flow situation.