As an investor in a market where cash flow does not come often and appreciation is a bigger play, I understand your mindset. 

Would you say Cleveland is more of a long-term play with steady and slow growth? 

Real Estate is a long term play. 6.

Long term play would be to either use it as a short term rental or 1031 exchange it after 2+ years.

@Tom HallAt 7% if you can I would pay it down as investing it net after tax gains may not get you the 7% you are paying - so it’s less riskDownside is you lose liquidity of that money as it’s tied in your propertyIf rates come down in future you can refinance and even take some of the cash out.Regarding your question are rates coming down, a lot of factors come into play but right now it does not appear there will be significant changes to rates over next 3-6 months.

One thing to remember is the flipper will have $30k- $40k in financing during flip and closing costs to buy the home then another $25k when they selll so that will play into the numbers that need to be considered. 

in the desert units are often on the roofs.. you can only hope the criminal stumbles and falls off the roof and breaks their butt and decides thats not a good play for them..

Sometimes the best investment is found in a 'transitioning' market that is just outside the 'great' market and is in play to be the next great one. 

Compounding on one another sure that will have a big impact on the market but there are a lot of factors at play.

This is where my mistake comes into play.