Neighborhood revitalization projects, major corporate investments, and an influx of small businesses were all happening at a pace that made it clear the city is on an upward trajectory.From an investor’s perspective, Detroit offers a unique combination of affordability and opportunity.

With actual cash, you just transfer it. yes, but you can still bid with lender approval - without appraisal contingency - you send in deal (app), it gets approved by lender its functionally the same as cash (except in true lightning speed situations where there is a quick auction with little time to prep but thats generally pretty rare I'd think)Right, but that's not cash or functionally the same as cash because the lender can change the terms at the last minute, as often happens with less experienced hard money lenders.

The combination of families looking for more space, good schools, and a quieter lifestyle has been a big driver of demand.For my investments, I’ve noticed:High tenant quality: Families or professionals relocating to suburbs like Naperville and Wheaton tend to stay longer, which helps with stability.Increased competition: It’s definitely tougher to find good deals, especially in top-tier school districts.

I find new lending opportunities by networking at local RE Meetups, Training Classes and real estate functions.   

Instead, shut off the water to the toilet and place a sign on the door "Art exhibit: Non-functioning bathroom."

We financed this deal with a combination of Partner Driven capital and Seth Choate’s expertise.

Quote from @Dan Grove: Some combination of cash to seller, closing costs, repairs, construction, paying off arrears, assignment fees, commissions.   

If you're looking for software with strong rental accounting capabilities though, there are apps that have this functionality built into them (rather than paying extra through RentRedi to use the REI Hub.

The breakdown is as follows:2 bed / 1 bath1 bed / 1 bath1 bed (studio) / 1 bathThe property was previously rented out for a combined total of $3,400 per month.

You can get a $1.2M stop-loss policy that kicks in after $300K combined losses on all 5 units.