Perhaps same with San Antonio, but just because the overall market may not be favorable, doesn't mean you can't find a deal or the right deal in any of them.Where do you live now and why wouldn't you invest there? 

Hey there. 

This is unlike any other course or group out there and I have been in several.

When you get up there to that level of renovation, there is always unknowns that pop up. 

Originally posted by @Rayan Faris:@Joe Villeneuve Thanks for your answer Joe.Someone correct me if I am wrong but there is a difference between knowingly hiring a fraud and unknowingly hiring one.

Hope you found someone you like out there.

There is no point in doing a 1031 exchange if you expect a loss from the transaction.A 1031 is meant to defer your gain.There are numbers which you can analyze and stress which is not easy to analyze.It looks like you are stressed with this investment and I would sell.I personally, however, would look to make the improvement for $10,000 to get one of the other units up and running.

If you buy a property with a tenant already there, what if the home needs a lot of rehab when they move out?

Detroit's got the advantage with the Red Wings since the Barons left in 1978, so I guess there's that.

@Alex Lee - A conventional renovation loan is not an FHA loan and requires a larger down payment...with the Homestyle renovation loan you can put down as low as 5%.If you can do Homestyle instead of FHA 203k, I think that is a bit easier since there are not as many regulations and requirements.