I am looking for neighborhoods with positive appreciation and cash flow.

If I were in your position, I would look for a bank or credit union that will give you a line of credit against the rental property.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Refinance after project, cashed out and continue to receive positive cash flow.

Hi Jeffrey,It sounds like you're in a great position with your rental portfolio and cash savings, and I admire your commitment to keeping your investments!

I love it here because there are still positive cashflowing deals and lots of appreciation potential due to the strong job market, growing population, and major companies setting up shop here like Intel, Meta, Amazon, etc.

But it sounds it worked out well for your equity position.

You're probably too late to do it for school (where your teammates could be roommates), but you'll be in a good position to do so with your teammates in minor league ball. 

Without new companies creating similar-paying replacement jobs, workers may have to settle for lower-paying service sector positions.