This offer would not seem attractive to middle America because it is not cash flowing as much but I would say this property will conservatively appreciate 5%+ per year.

I can see a scenario where I take on the risk of a high interest rate and less flexible terms for 5 years, so I can access my cash sooner if that option is there.

A 3/1 built in the early 1900s that has fallen into disrepair over the past 20 years and in needs of a full gut. 

Since the house is owned free and clear and has just been sitting there for 2 years since my uncle's death, my thought was that we would decide on a price let's say $625,000, I would pay for everything else and sell it.

I know I can contact Realtors but I rather find out through black and white thank you guys.Although you said you are in CA and want to invest elsewhere (I'd recommend something within a 1 hour drive from where you currently live), the process of picking the right market is the same.I like to see good $/sf growth over the last 2 years, and a market that is $700/sf and higher.

But it's been a lucrative 5 years.

Below is a bill from a house I sold earlier this year.

Kyle has grown from 5k to 63k in a 20 year period of time.

Quote from @Jonathan Morgan: I'm seeking a new metro Detroit property manager, as my latest property manager absolutely destroyed my cash flow over the last year.

I will have to pay capital gains taxes in either case as I've owned less than a year.