I am leaning toward removal because the floor is run down, the risk of increased pests or feral cats, and there is already a storage closet off the patio.

But ...The first thing I observed was the replacement cost portion of the quote, was, IMO, less than what it will actually cost to demolish the remains of the existing structure, pay for any hazardous waste removal following a catastrophic loss, and actually pay to replace the property in the event of a total loss, even though I used the quote feature to increase the replacement cost value by 20% (the maximum it would allow).

My approach isn’t aiming for an overnight transformation but rather a gradual strategy where I reinvest equity gains and cash flow into scalable opportunities.

Once you increase your real estate portfolio using these tax free money, part of the cash flow they generate is offset by the non cash deduction (ie depreciation) so you get the equivalent to the depreciation amount but don't pay taxes on it.

If MTR is a good strategy you will further increase your cashflow.

@Muriel Hair here's some articles about Detroit increasing over 20% in 2024...https://detroitmi.gov/news/detroit-home-values-increased-ave...https://www.cbsnews.com/detroit/news/detroit-home-prices-amo...https://www.detroitnews.com/story/news/local/detroit-city/20...

It was a 50% of one months rent and a $100 increase in rent. 

Aside from the increased rental value, properties that are on water, or have a view of the water, are going to appreciate in value at a higher rate than the others.

@Scott VaethIf you live in part of the home and rent out rooms, you might be able to keep the lower 4% owner-occupied rate.Instead of a long-term rental that barely covers half the mortgage, could you do a rent-by-the-room model or target traveling professionals to increase cash flow?

but let me know if i'm missing something That was the plan, and honestly my current mortgage is less than 1300/m so with the increase it is maybe double that, which I can deal with.