Remaining mortgage is $107,000.You may also ask, why not buy another property with this money?

Respectfully,Zach Hi Zach, you could do this through a joint venture agreement, which is basically a contract.

I was able to quit my 9-to-5 job and focus on this full-time.

I am sure the interest rate is great on this.

Would love to see the math behind this.  

For example, this deal does not seem to "fit" based on the 70% rule calculator which was new to us.3.Any suggestions on how we could negotiate better terms with either the bank or real estate agents?

@Abraham BerkowitzI suggest you focus on making money on this deal and not on reducing future hypothetical taxes. 95% of first-time flippers lose money on their first deal once everything is accounted for.

Thinking of converting this loft space into a functional bedroom to make it a 5 bed 2 bath house for equity. 

I have been doing this for years.

Hi Wayne,Other neighborhoods to consider are the following: Near Eastside: This area has been seeing redevelopment and could offer good opportunities.Irvington: A historic neighborhood with a lot of charm and potential for renovation projects.Garfield Park: Another area that's been on the upswing and attracting investor attention.Mapleton-Fall Creek: This neighborhood has been targeted for revitalization efforts.Riverside: Close to downtown and has been seeing increased interest from buyers and investors.Reach out if you'd like to talk about financing options!