-Foreclosure activity was up 28% from the previous quarter (ATTOM)-Household savings is below 2019 levels for 80% of Americans.

Then you run every faucet  in the house  until you smell chlorine .

Households are consolidating and that will hold rents down and vacancy up.

We have about $70k saved up, household income is close to $200k, credit score at 750+ both and we don't have a mortgage so I believe we have a decent chance of getting an approval should we pursue this.I just want to get an insight from seasoned investors here in Detroit area or suburbs.

In turn, you will be required to provide 30% of monthly gross adjusted household income (based on current HUD standards) towards your monthly rent to HOPE South Florida.

So, since I do not make a passive income from the property, I can't normally write off any of my expenses (rental losses, hoa, etc.) from that property on my taxes cause my household income is too high.  

The median household income in the US is $50K so if you retire now, maybe you can qualify for food stamps.

Thing is every debt is different in regard to one actual income/net worth.One with Real Estate income only would view $100k fully paid investment with $500/mo cash-flow ; would be different thana couple with W2 total household income of $400k and multiple stream of income, 75% LTV for 1.5mil investment and $50/mo cash flow, and still travel a lot LOL.

In our area the Habitat for Humanity Restore has a team that will go in and retrieve cabinets, doors, fixtures and even household goods.

Chlorine will KILL YOU .