It would take 1.5 years to recoup your 10K at that rate.

I have kids and they need to be enrolled in their new school, and will have to secure the new place by X date or I lose it. 

If you did find a lender you should expect a 13-15% rate, and honestly that's probably not high enough.

Occupancy is low, tons of bad ratings, listings not very impressive.

Google ratings and scheduling a consultation is always best and choose an attorney that way . preferably in the area that the properties are located in . 

Despite mortgage rates being double what they were two years ago, the overall borrowing environment remains favorable for state and local entities.Key initiatives driving this surge include efforts by entities like the Michigan State Housing Development Authority, which recently launched a $425 million bond sale aimed at providing affordable mortgages to over 2,700 families.

Conduct thorough market research to comprehend the potential real estate markets, considering aspects like employment growth, population trends, rental demand, property values, neighborhoods, schools, and local laws.

What is the rate of inflation now?  

I do a lot in Detroit.The quick good/bad:- S8 tenants tend to be rougher on the property (but not always)- Paperwork/inspections/etc. can be burdensome and tough to navigate (especially initially)- People often think FMR rates are guarantee rental rates but that's not the case- Usually the rent isn't 100% subsidized and a lot of people don't realize this- S8 tenants tend to stay a lot longer than cash tenantsOverall, I'm neutral on the program.

With borrowing rates as high as they are, it could be difficult to maximize income by 1031 exchanging into a rental that is both (a) financed, and (b) in an urban area where prices may still be close to 2023 peaks.