It’s been incredibly rewarding not only to save my grandfather’s legacy but also to build equity and increase cash flow.

I have worked really hard over the past decade to position myself to begin to build my portfolio. 

Are you saying that because of this unit, the building might not be able to be refinanced?

Quote from @Josh Otero: Hi BP community, I know you've got some crazy tenant stories and I want to hear it.I'll go first:1) I was managing a 5 story apartment building and a dog fell off the 4th floor balcony because of the owner not paying attention.

One more reason why people should stop looking for the easy path to building wealth.Increase earnings, reduce expenses, save, and invest.

It isn't like this a condominium where assessments are paying for common parts of the building like the roof, etc.Prior to this, I didn't have much experience serving on an HOA board and have therefore relied on the management company for their opinion on certain decisions. 

So focus on lead generation.Once you have that covered, then yes you do need to have a bit of insight on the workings of the transaction.But all this should be easy to figure out the moment you keep commonsense in play.Start with getting in touch with a wholesaler-friendly attorney for your closings (if you are in an attorney state), and build a relationship with him (that is also what I did)..He should guide you along the way as you go.

-Build a strong network in Detroit of real humans over a period of months, buy a better deal, hold it for 10+ years, weather early storms:  better chance for success.Even on that latter deal though, are you going to cash flow in month 1 or year 1 or even year 5? 

The only way to know if your idea is worth doing from a wealth building standpoint is to do the math:  What is the cost to acquire?

Is the real estate an apartment building or single family?