I don't know how much money you have but I suspect there are a very limited amount of deals you could potentially do if you had to dish out $135k for each deal.This deal looks very safe and conservative either way.

@Zaid Waheed it would be safe to assume that the tax rate will be 40% - 50%

Great, safe area with great rental market. 

If you 1031 into a property and then use it for rental for the next 24 months and do not use it for personal use more than 2 weeks or 10% of the number of days it is actually rented then the IRS gives you a safe harbor and will never challenge that your initial intent. 

OOS in a rough area of Detroit, I am not sure that 60% would be a safe number to use (I just would not consider it regardless of any cash flow projection presented).Good luck

Helping Hands for Housing is a tax-exempt 501(c)3 nonprofit organization that provides housing to homeless veterans in the Dallas-Fort Worth area.The best way for our nonprofit organization to acquire homes where our Veterans can use their housing vouchers…..and how you can make some money and get huge tax credits.Obtaining the properties for HELPING HANDS FOR HOUSING is the most difficult part of our process, so I have outlined some plans to accelerate the acquisition of the homes.If you would be willing to participate:We find a discounted house, arrange for you to buy it at the low price, then at the same closing, you sell it to our nonprofit organizationYou will receive substantial tax credits—(both corporations and individuals are eligible)Helping Hands for Housing obtains the homes at discount ratesYou make money every monthHelping Hands for Housing makes money every monthMost importantly: our Veterans have a safe, affordable homeAs you know, if one has cash readily available, houses are easy to purchase at a steep discount.

I totally get being risk averse, but money sitting in a bank is actually more at risk due to inflation that putting it into a safe investment.

Been reading some previous threads and noticed that East Ogden seems to be a safe bet. 

I wouldn't do anymore than is necessary to make it safe and profitable for the long term.

I completely get better safe than sorry, but it sure felt like a waste of $150.