It's important to note that Detroit may have higher vacancy rates and lower demand, which could impact rental income and property values.

Interest rate, even if this is a cash deal?  

Not sure what the going rate is.

Good news is rates are starting to trend down and property values are still growing.The cash out can serve two puposes it can help pay off some high interest credit cards and be used for a down payment. 

At any rate, thank you for the info.

I would use nontraditional REI strategies right now, due to interest rates and housing premiums.

As for what I can provide, I've been strengthening my underwriting skills by analyzing deals on LoopNet, diving into metrics like NOI, cap rate, and the 1% rule.

Unless rates are finally cut and prices rice, then maybe it’s a six figure mistake. 

We evaluate the after-repair value using a gross rent multiplier and a NOI/cap rate model. 

Floating rate gets a bad rap.