Quote from @Hemed Tov: I would really get with someone in that market that can dig in see what is going on with the market (comps), and also maybe the rehab was not as good of a job of what the market is yielding at 300K property.

The market has gotten a lot more competitive in recent years.

Have you decided what market will you be focusing on, and do you have a particular strategy in mind? 

The good thing about the houseGood monthly cash flowGood interest rateIf its a headache property, I would sellIf it doesn't have much maintenance and you have good tenants, I would keep it.If you do decide to sell, you have about $200,000 of equity which you can buy 2-4 houses with when the market is more favorable.

Given the location and how the town has been developing it seems like a good investment opportunity for rentals.

The residential lease market in Washington, DC, from January 2024 to January 2025 has experienced some changes:Units Listed: The number of units listed decreased by 78, a 15.92% decrease, from 490 to 412.Listed Median Price: The listed median price increased by $175, a 6.19% increase, from $2,825 to $3,000.Units Leased: The number of units leased decreased by 58, a 19.86% decrease, from 292 to 234.Sold Median Price: The sold median price increased by $100, a 3.51% increase, from $2,850 to $2,950.Summary: A decrease in units listed and leased indicates a reduction in supply and demand year over year.

You have to understand the market, neighborhoods, numbers, and realize the risks involved buying houses "sight-unseen".

Hi Joesph, It’s awesome that you took the leap into fix-and-flips and already have your first deal hitting the market soon—huge milestone!

My experience has been overwhelmingly positive, but—like any market—it depends on your approach, risk tolerance, and the team you have in place.Detroit is unique.

And this market 100% of the sellers have paid it (my market).