You're 100% correct, as always.

I wish you would have told us the year, it makes a huge difference.Anyway, everything you mention, plus 1) get a camera run on the sewer line, 2) make sure the Elec panel is newer and sized correctly (a lot of HIs will just say if it's functional or not) 3) Foundation ( is it slab or raised?)

@John Slater - So you knowingly associate with James Piccolo, whom the Arizona Corporation Commission fined $6 million dollars in restitution and fines for defrauding 105 investors with unregistered deed of trust investments?

So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

Asking in the correct forum will get a better response.Read the RULES!

So, if a loss occurs while the property is being repaired or renovated, coverage would apply, correct?

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.

Most are being encouraged to buy Class B-minus rentals and below, but no one corrects them about their mistake of using Class A assumptions on these rentals:When a newbie gets smacked with reality via their losses, they then can only suck it up until time improves their mistake or dump at a loss.So, my question is, why can't we all do better and grow our industry with integrity?

I did my research and requote what would benefit both me and the investor, below is the Finalized CORRECT format of the proposal:Listed price on the property: 459,900MAXIMUM amout of money down on the property: $380,000Method of Payment: CASH OFFER from Investor.

With this in mind, if you intend to leverage short-term debt (hard money), it's even more vital that your underwriting is thorough and that you have the correct systems in place to tackle potential issues.