These type of investments are illiquid, long-term and completely out of your control. 

So, renting out my property seems like a good start.

It's a huge win, and I admit, at the top end in terms of outcomes.Most deals are leaving $5,000 - $15,000 post-refinance but still nicely cash flowing.In short, yes, there's a lot of opportunity in Detroit but you really need to understand the market or work with folks that do.I'd be happy to chat with you or anyone else looking at the market there.I'd be keen on exploring opportunities to invest locally from out of state. 

Seek out those who’ve been in the game for a while.

He can try to work out a modification of the loan in some way, and there are literally dozens of different types of modification that may be appropriate for any given situation and may prove beneficial for both parties.  

Glad it is working out nicely for you. 

Hello BP Community,I have been a BP lurker for many years and after falling out of love with retail real estate- I am oh so READY to get into investing (my first true love).

If you ever want to chat about the Tampa market or get some tips, feel free to reach out.

It depends upon what your current rate is, how much equity you have in the property, does your current financing have a prepay, and what your plan is for deploying any cash out.

Also, Padsplit will want you to eliminate any dining room, den, etc to add more bedrooms.