The other big factor that plays into Detroit’s big positive cash flow wins are the enormous amounts of renters desperately looking to move into freshly renovated properties.

Better still would be if I could convert it to a SD Roth IRA (paying taxes on it upon conversion), and then have something like $97,500 more in my Roth IRA account with which I could play in real estate and have no taxes on the gains.I hope this helps!

Yup, i certainly wish I had an office away from the kid's play room ;)

Investment properties under $45,000 are financeable, but there are less lenders willing to play in that space.  

Although the math implies some leverage is better than none, your personal preferences and goals should play a large role in the decision as well.

The trick is sorting through all these "buyers" to find a true CASH BUYER who will close on time and won't play games with you.

There are some other small value add plays I saw with that building though, such as converting the laundry room to coin-operated units and adding more storage/converting the garage. 

Sell it now, net gain about $40-$60K after taxes, commissions, listing price, etcTo properly and adequately answer this question, one would need to know your strategy and goals.Strategy A is based on cash flow to support living expenses.Strategy B is long term wealth building - appreciation (market and forced) combined with principle pay down, depreciation, etc.If you strategy is A, then you should sell as this will not turn out positive for several years down the road (unless you utilize some sort of house hack play, vacation rental to increase income, or any combo of increasing income and reducing operating expenses - which by the way you skipped a lot of those in your analysis so your negative monthly cash flow is actually greater than you explained.)If your strategy is B, then by all means keep it and enjoy the likely future appreciation, amortization and depreciation deductions to offset your actual loss each month until the unit goes cash flow positive.

I would suggest a minimum of 9 months of debt service. 1 month is playing with fire. 

Sometimes you need to play with fire to really learn I guess 🤦🏼‍♂️