I would take all of the details of your current properties, project what the sale would be, and what does that leave you to invest?

It helps to know which plumbers or electricians like a remodel project vs a new build project.  

Knowing and understanding the local market and submarket will also drive the assumptions (or the inputs) for the projected returns and valuation (or the outputs). 

A few public projects have cleaned this up but the area has never prospered since.

Neighborhood revitalization projects, major corporate investments, and an influx of small businesses were all happening at a pace that made it clear the city is on an upward trajectory.From an investor’s perspective, Detroit offers a unique combination of affordability and opportunity.

Also, the ability to find good deals with an accurate budget to complete the project up front from some good project managers/general contractors.

Also, did they provide you those terms off the bat or after explaining your project?

I would not use our money for the next project.

If you're going to reinvest the proceeds you might want to consider a 1031 exchange or a cash out refi to generate the investment funds you desire for your next project.

I realize you're starting out so it may be a while before the lucrative legal projects appear but if you enjoy your field they will because you will get very good at it.