There is no way to absorb the costs of properly renovating a home in its entirety when you are dealing with $115K assets.

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

If the insurance isn't done properly, it's on the edge of impossible to cash the check because it's made out to the lender, my company, and the seller(s). 

Quote from @Nicholas Dillon: I read somewhere that you can request to have your mortgage insurance dropped once your Loan to Value reaches 80%.

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

I just completed my 20 hour course for my Illinois Mortgage Lending License and the final step is taking the state exam.

We network with other fix & flippers teaching them how to properly structure a seller financed note so that it has value on the secondary market, we then buy a partial from them to take out most, if not all, of their cost basis so they can recapitalize and go do another deal. 

Co-Living, when done properly, should be less work per lease than LTR. 

I am a licensed realtor based in Atlanta, Georgia, and I am currently working on obtaining my mortgage origination license.

One thing I’d stress is the significant difference between Detroit proper and the surrounding metro areas.