Super new to BiggerPockets, and the forums came highly recommended for my situation!

Nobody wants to be around people like this, so I’ve had to lower my rent drastically and have a high turnover rate here.

Rates could be so high on theHELOC that its not beneficial.

@Grace Tapfuma How high can housing prices in the City of Detroit go?

At the end of the day, losing $10k is really not a lot in the grand scheme of real estate investing, and given the seeming high volatility of this market ($275k to $220k, presumably in a matter of months), and the generally high monthly cost of HML, I would get out quickly and think of the loss as the cost of education.At least in my area (Cincinnati, OH) I don't see the market dramatically improving even as we get into the spring buying season, and, honestly, I only see mortgage rates continuing to climb for the foreseeable future, taking more and more buyers out of the market.

You can also check out a group on Facebook with other investor like your self called Yellowbird.

With high SMS deliverability, automation, and easy CRM integration, it saves time and increases conversions.

The few lenders that offer no seasoning, they typically make you pay for it in high rates / fees.

This is very common, and highly successful.

I also understand that some cash buyers, unlike many of those motivated by greed, are honest and knowledgeable, however I find it difficult to identify them.