BillThere are alot of variables to your question.

I did make a trip to Detroit and drove around neighborhoods to realize 'every block is different'.Its still sounds lucrative wrt ROI, but with concerns of- Property taxes : probably most complicated of all states- Home insurance is too high- Property management is too variable, anywhere from 6-12%.

. :)There are a lot of variables.

I'm not saying the next light bulb won't be invented (it took 10,000 tries) but plan on a long slog to make it happen in real estate.We and our Joint Venture partners use a fairly sophisticated spreadsheet with a lot of automatically input variables and at the end of the day, it is still experience and second guessing the market that works best.

Quote from @Robin Simon: Its definitely dependent on a lot of variables, personal situation/risk tolerance, etc.But high-level, I would say that there can certainly be a balance - sometimes people forget that when using hard money or any sort of financing, for some reason you need to "MAX out leverage" - i.e. do a 100% financing for a flip or a max cash-out refinance etc..However, most hard money lenders would be totally willing to do a lower leverage loan (and would probably prefer it) such as 50% or 60% LTC instead of the usual max amount. 

Legal liability is a tough road to go down since it has too many variables for you to deal with.

Just as a reminder in addition to the interest rate, amortization schedule and fixed period of the loan, inquire about: 1) Prepayment Penalties (In case you want to refinance in a few years), 2) Possibility of Rehab Funding, 3) Reserve Requirements, 4) Personal Guarantees, 4) Rate Adjustments (i.e. at the 5 year mark) to understand other variables in the loan product that works best for your project.

I'd rather have a fixed rate on my investment properties vs a variable rate.  

I've called some companies and it seems like the price varies somewhere between 10-20k to move one, based on a number of different variables.

Hi @Kristi Johnson, I would take out a HELOC(variable rate) or Home Equity Mortgage(fixed rate).