very high risk even I only do them with very specific investors in mind and a plan. we dont flip land we develop every one. 

Hopefully things continue to progress, and you come out on top with a huge equity position/high cash flow when it's all completed. 

Highly recommend Umbrella Insurance ^

I said that was too high for me and offered $170,000. 

Once you go above $125k/unit you start to get into the high end areas that won't have very good rent/price ratios and are under the 1% rule mark for turnkey stuff.Neighborhood wise in the city the "East End" is where the most expensive real estate is since that's where the universities and a lot of the hospitals are located.

Another thing to note, these are high-paying jobs being moved to Phoenix. 

If you have a high 7 rate then it might be beneficial in the long run to pay it down if you don't want to put it in a 4% savings account or CD.  

But presuming you are talking about doing the above, this is a high risk strategy.

If one has high living expenses, cash flow doesn't mean much and I definitely understand going for appreciation first.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.