This gives you a foundation for making a fair offer.Secure Financing: Be prepared to show you’re a serious buyer with funding lined up, whether through cash, traditional financing, or a creative option like seller financing.Have a Strategy for Repairs or Development: If the property is distressed, outline how you’ll handle improvements to bring it back to productive use.

Work with a qualified intermediary and tax advisor to ensure compliance and optimize your strategy.

I'm looking to purchase a single family home as an investment property (buy and hold strategy).

That said, Detroit is very much a block-by-block market, so understanding the dynamics of specific areas is critical.For professional investors (and even newer ones), Detroit’s future is bright if you approach it with the right strategy, solid due diligence, and an understanding of the challenges.

But I would say to be open to having more than one partner in the deal and to outline an exit strategy so they know how long the money would be tied up for.Good luck to you.

It helps to build a good network of reliable contractors, especially if you’re investing out of state.Section 8 has been a part of my strategy, and while it’s not all rainbows, it’s been a solid way to build consistent cash flow.

Maximizing cashflow becomes a strategy choice that accounts for your market and tenants.

If your properties are generating solid cash flow or have appreciated significantly, you might be following a “smart leverage” strategy, à la Grant Cardone.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

I think the real estate professional strategy works if it is your primary source of income.