Hello, so I am still fairly new to wholesaling in Detroit and I need some advice on what to do when a seller asking for proof of funds/bank statements when I do not have the money?

So for a 1031, you keep upgrading to larger properties each time.  

To me Craftsman Style porch columns make a great statement. 

My long term goals are to utilize the BRRRR method to build my portfolio out of state (Arizona is currently a bit too hot, pun intended), and eventually move into larger deals. 

I don’t know if it has a direct correlation with the growing “young professional” demographic but I think many people would be surprised on how many 1 occupant tenants there are renting larger units or 2 bedrooms units to serve as an office. 

the larger banks may not have their systems setup for it?? 

When applying for a mortgage (making assumptions here), the lender will want 3 months of bank statements, W2s, etc.I agree with others here that house hacking (living in a house you are renovating) is the way to go AND in your situation, buying a duplex or similar income producing property will help if you apply for a mortgage. 

Utilizing cost seg is a must do in my opinion, certainly with larger jobs too. 

Regarding the prices going higher as these smaller Handymen become larger contractors, that’s just ignorance speaking.

@Ian HallAs a new investor I certainly don’t want to bite off more than I can chew with a 4plex but am curious to hear what you have to say about starting off with a larger scale.