Now, money per se doesn't seem to be an issue to me at this time , I know what I can get (up to $170K) and I know the interest I will most likely qualify for (no less than 12% for a start up with zero experience, but more likely around 13%-14% and no more than 15% for the first project).What I really look advise for is the marketing.

I don't do open houses per se.

Se a mailer with a flyer for this deal.

Do you attend the SE MI meetup?

I understand this won’t be a “cash-out refi” per se, but what if the 50k is lent to me as a second (position) private mortgage on the property; wouldn’t the refi mean the lender of that mortgage (a family member) would get paid back?

I was just seing if others agree with my interpretation of the read.

I'm looking to sell some rehabbed properties in SE Michigan.

It might not make a whole lot of sense in NE/SE, but might be worth it in the NW

However, I've heard that the NE and SE quadrants are best considered with I-20 being that X-axis.

Here are two very good rent comps I found nearby.  411 NW Arlington, 3/1 1700 SF, rented for $795 per mo   4053 SE Bedford, 3/2 1352 SF, rented for $800 per moIf you can make this property at least as nice as those, you should be able to get around $800 per month.