Yeah if your condo is negative cash flow you're spending money to service your obligation while your equity is being taken hostage with only tax advantage paper loss, equity gain/loss = gamble, neg cash flow, and perhaps a bit of loan amortization each month the mtg payment is made.freeing up that equity my be a better bet, agreed.

If they don't leave, well, it was worth the free gamble and the status quo remains the same.

I found it in my spam because the title was so generic it could have been from a scammer.

Often times people will come to the site and send unsolicited SPAM emails or PMs or simply do things that cause red flags to be raised.

I'm not sure if this is the right place to post this , it's not spam or anything ...I just wanted to recommend a forum member and mortgage broker for his low credit score/credit building mortgages.

There is a ton of risk in taking a property like this on, and very little in the way of cashflow to pocket while the appreciation is gambled on.  

In this regard it's more about how much of a gamble to do you want to take on the appreciation play.

It's a much higher gamble here.

Looks like a gamble to me.  

I'm not an expert on Michigan but I'd bet you can still benefit from undervalued areas as a result while staying out of a Detrot gamble.