A private family lives there, and traffic issues abound.  

In other words get your financing lined up - inspectors / contractors you can rely on etc... then when the opportunity presents itself you can act accordingly.

There's opportunity around all of us, if we look in the right place.

If you are ever going to borrow money later it will likely be at worse terms than the three loans you outlined above.I would invest any money you were planning on using to pay these debts downs on opportunities that pay greater than 5.49% returns.

I work in the Nashville market with people who are looking for their next investment opportunity.

There's opportunity around all of us, if we look in the right place.

And I realize your holding costs are the opportunity costs of lost gains in current securities, but if you compared to risk withhard money borrowed funds, you are in much better shape!

There are so many opportunities to do that here in Detroit and I know the area I would love to do it in.My challenge is getting a mortgage when the house is not in perfect condition. 

I'm sure you'll get better insights in to this, but since it's been quiet for a few days here are some things I would consider:- Opportunity cost.

If so this might be an excellent opportunity.