Everything aforementioned is great information, I just wanted to provide a little extra color in the hopes it assists your client's decision.

Research local rental trends, consult a Detroit realtor, and weigh your needs for stability versus flexibility before making a decision.

Any information or point of view would really help me.

I also understand that it is quite possible that the property is in a condition that would allow you to rehab it for a nice profit, but at this point you don't have enough information to know.

If you want to keep the property but reinvest the accumulated equity, that could be a wise choice.Ultimately, the decision to use a 1031 exchange or refinance and take out equity depends on your individual circumstances and investment goals.1031 Exchange 45-Day Identification Period ConsiderationThe identification period for the replacement property is 45 days.

Estimated Market Value: $290,000 to $330,000One of the most satisfying aspects of this investment is that the duplex is now operating at break-even, and we managed to secure it at a 10% discount below market value, showcasing the value of strong relationships and strategic decision-making in real estate investing.This deal exemplifies the importance of being adaptable to market conditions and leveraging existing networks to uncover hidden gems in the real estate landscape.

Many factors go into the decision on which house to buy, and I’m not referring to number of bedrooms.

Thank you for all the helpful information. 

If applicant doesn't meet standard criteria but wants an exception, they reach out to us to sign an exception to their standard policy and it's our decision. 

This decision will heavily influence your strategy selection.2.