Expenses (taxes, HOA, insurance) are $267/moI came up with a Cap of 8% (the bottom of where I am comfortable).If I had $80k in cash sitting around, I would jump on this deal, but as it stands we would have to either 1) buy in a self-directed IRA for a longterm investment or 2) cash out part of our IRA, take a tax hit now, but enjoy $600/mo extra income forever.

We keep them well maintained and tidy with the idea that good tenants want updated, clean spaces and are willing to pay a bit extra for them.Do I let him stay, at least another year until all the other units are turned, or does he need to move on?  

"- DJ Benedict Heros west, right off the i80 and houbolt, they have good food and service.

You can RSVP here (an account is required) or simply show up - but registering would be helpful so we can plan accordingly with printed materials: http://www.meetup.com/Networth-Investors/events/22...Light refreshments will be served - please note that Somerville is mostly resident parking, so be sure to give yourself some extra time if you're driving in, try to carpool, or take the T.  

Good food and drinks, nice atmosphere.I don't venture to the west side a ton, but I can tell you that Lakewood and Detroit Shoreway are both popular areas.

I must sell a property who is already paid in full and need that money back in my hands urgently to keep expanding. Commercial Value is around 145K. Since HOA is $330 and rent is only $1350 at most we are deciding to ...

Pretty nice.Finding the right property and providing above and beyond in an extra hairy deal and then moving it to a strategy for success opens the doors.  

.; and food is on you.

Just some food for thought.

Detroit is like any other city with it's bad areas with one bonus...it has the extra benefit of the news media's love for the "story", and the "story" being that "one more time in Detroit".