The property is being sold subject to $175,000 first mortgage.

But ask anyone who ever sold a business: it is not easy!!

However the owners retired and her team left when she sold the businesses.

I agree with some investors here, in Detroit you have plenty of opportunities to get decent cashflow now.Just use any Zillow like tool that sort listings by LTR cap rate, I use findvest.io they have decent vision AI filters to filter trash houses compared to mashvisor 26 doors and scalingJust make sure to copy and paste the addresses on spotcrime and don't buy in a warzone, and you should be fine.

That home was in Milpitas CA.. probably worth about 1 mil today.. but I lived there 2 years sold it made over 50k and I was off to the races.. primary home equity as I look back 50 years of ownership and multiple homes has made me well over 2.5 million in tax free gains. 

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.

@Gail TraversOne thing you may be overlooking is the fact that mom and pop (who everyone in the park seems to adore) sold the park for MILLIONS to SCI.

Others purchased smaller properties, and sold their lots to builders.

Not as many hotels in the area except next to some ski resorts but during covid it got crazy. we bought one for $25k at a foreclosure sale in 2015 and could not give it away in 2019 for $50k then in 2021 we sold it for over $120k. 

I'd love to see a copy of it as I'm dealing with a potential tenant who's pushing things a bit.