My question is, the property has a decent amount of equity, and I'd like to try and leverage that equity to potentially get another property ideally in the same neighborhood since I've had amazing luck renting to military members.

While there have been stats come out the past couple of months that say rents are up, I don't really believe that when you see the newer properties offering 2-3 months free rent.   

Even though I didn't really want to invest in Michigan because it's Not too Land-Lord-friendly, I still had No idea there were so many available properties for real estate investors to rent out.

(Higher than normal rent.) and I will give you the option to buy the property in 5 years for selling price minus x, maybe minus some of Y. 

We want to live in the next property and fully rent our first duplex.

Unit will be rented for their son who is going to university. 

The down payment plus closing costs, expenses to make the property rent ready, travel back and forth (do not purchase a property in a market that you have not visited and/or do not plan to visit pre and post purchase), and the required cash reserves puts your realistic purchase price around $150k. 

When you refinance and then rent it out, you will have hard expenses such as insurance and possibly some utilities.

They are behind in their commercial rent by about $15K. 

If people can access basic needs, and even new homes, for free it will eliminate rent and sales for many existing homes.