Plus you still have to actually underwrite the entire deal (purchase, construction, carry, etc to develop accurate CF/profit).

You'd be better off building a solid emergency fund and developing relationships with reliable local GCs.

So those were all on my Fico.. my Bank loans from my commercial banks dont show up IE: development loans  vertical construction loans..

This caused a lot of developers to leave the city and has caused headaches for landlords.

Philadelphia has implemented various forms legislation over the years between abatements, land banks and density bonuses geared towards promoting development in areas that suffered from disinvestment and housing affordability challenges with some legislation having been more effective than others. 

What kind of funding can I acquire to develop this property?

Developing a strong network of individuals who care about bettering themselves, their family, their communities and especially helping out anyone who wants to make more of themselves.

The rent-to-price ratios here make cash flow realistic, and there’s a lot of revitalization happening that adds appreciation potential.Detroit’s population is officially growing again, and there’s strong rental demand, especially in neighborhoods seeing more development.

As your base level of knowledge grows, you will start to develop a clearer picture on the things you want to do, and where you skill sets lie, which can narrow down who you may want for partner.  

I did this with about 4 developments in PDX market and that was 2005.