Is this a realistic path to reasonable CoC return? 

It takes into account cash flow, leverage and amortization, depreciation and tax advantange, and appreciation.A property with great cash flow but minimal appreciation might not be the best return for money and effort.A property with negative cash flow and double digit appreciation can be a gold mine.A property with sucky cash flow and very high leverage could still be a great investment if the leverage is low interest because of amortization.The two biggest questions I challenge my clients to ask are not about performance (The IRR gives a definitive picture of that). 

Estoppel letters are definitely something I would recommend for commercial properties.

Just got the agreement and it's definitely a wholesale because part of it is about a 3rd party buyer.

It's clear there are many paths to success in this market, and I hope our larger-scale project can find a way to contribute to Detroit's growth as well.Thank you for your time and consideration.

@Caryn FischerI agree with Jaron, you should definitely have a consultation with your tax accountant and/or financial planner before you do anything. 

Definitely agree and they are not getting a dime but I do need to send an itemized letter with all the deductions within 49 days and that's is where my question arises?

Quote from @Arvand Sabetian: Hi Felicia,I'd definitely recommend taking your time to consider your options.Lithonia sees a lot of squatters and trespassers.

Different phases of the journey I guess :)By starting with self-management, I definitely learned to appreciate what the PM was doing for me.

Definitely reach out to your insurance provider.