I'm under contract on another one in eastpointe right now.Sometimes its hard to look at a location as a whole, but every property we buy we look at the specific location.

The "market" you should be using is based on specifically where you are investing. 

A possible alternative to cash out is to sell the property to your family member, so that the property stays in the family and the equity is accessed.

As, I've mentioned to a few other posters in the past, when your searching in NYC, I would recommend getting super specific in your geographic parameters. 

It's essential to evaluate each deal individually, considering factors like your specific market, property condition, and your own risk tolerance.Here's a quick summary of what you might do:70% Rule: Use this as your initial benchmark to assess deals, especially if you're looking at traditional financing with 70% LTV as a goal. 75% Rule: When you have access to lenders offering DSCR loans at 75% LTV, adjust your analysis to match this new lending option.

@Martin Bys pretty basic goals, you'll need more specifics to achieve them!

Attending local real estate meetups can be a great place to find other investors as well and get more market specific advice!

The only benefit in this instance, as an investment partner in a JV, or member in a multi-member LLC, is it's an act of "good faith" on my part in the agreement, being extremely transparent about the project's costs for the construction company, and the specific amount the partner/member invoices as profit or salary attributed to construction services on the specific project (I differentiate profit from salary, as it depends on the size of your construction company, a smaller company the profit may be the salary etc). 

They can help guide you in specific local markets.

I've been saving up for my first property purchase, specifically aiming for a duplex.