This type of short-term loan can provide the funds needed to renovate the property.

In this type of area having just 1 or 2 properties is ok because your tenant base is higher end and more stable. 

If you're looking for positive cash flow, you should be looking into the B-/C type neighborhoods because this is where you'll find a lot more buy and hold, BRRRR, and positive cash flow opportunities.I appreciate your comments. 

But 1031ing your current land into better production land that you rent out can be a very stable platform.  

If you are not looking to evict now, I'd wait with these types of tenants until closer to the 30 days, you are looking for more confrontations and problems if you tell them you won't renew. if anything,  you can say that if there will be another violation you will start eviction process best of luck 

Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

In this type of transaction, there is no investor, only notes.

What type of business do you own?

I'd love to learn more about investing in hotels and this type of properties, so please if you have any books/documentaries/any type of resource that I should definitely study before I venture in the wild, comment them below my post.Thank you so much in advance!

What made you interested in investing in this type of deal?