Detroit offers solid cash flow potential, a relatively low barrier to entry, and the market fundamentals are improving with a growing population and significant investments in the city.Since you’re based in upstate NY, Detroit is also a quick and easy flight, making it easier to visit and get a feel for the market if you’re considering out-of-state investing.

I haven't sold yet, I've been analyzing property to get a head start on the 45-day timeline of identifying the potential replacement property (and because I enjoy analyzing property). 

As an invetsment-friendly agent (based out of Houston, TX), I’ve seen how the right professional will help you analyze cash flow, manage comforatble contractor bids, and even drive for dollars if you want a broader look at potential comps or deals in the neighborhood.

Any advice on how to navigate this while keeping the deal intact or potential transfer of partners would be greatly appreciated!

I know pools are a must have amenity to compete in many markets and I have to admit that I'm a bit hesitant to enter those markets due to the potential liability risk.

I am from some of the worst areas in Detroit and have since moved outside of the areas that would be considered “unsafe” but because I am from Detroit I am familiar with areas that are redeveloping and have great growth potential; lots of new construction, townhomes even, and lots of land.

I was wrong to fall in love with the potential of this development.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

But if you get a major expense you could then potentially have a decent amount of debt.

When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.