Modern lumber is also a lot more prone to termite damage as it is softer and easier to consume whereas old lumber is extremely resinous and naturally termite resistant.

You probably don't want to invest in someone's first deal unless you know them extremely well, so make sure you ask about the management team's track record of doing deals together. 

Hi Petya, DSCR loans are extremely polular with investors in the Detroit market.

I can relate to the cold winter's that will soon be knocking on your door. 

And the 30% ratio does not work well in extremely low income area, you need to assess closer to 20 or 25% of income. 

That is extreme.

Tenanted properties are extremely challenging to sell and the recent change in notice period has made that worse in BC.You are in a tough spot either way, only you know your financial situation and your numbers.

Education is extremely important. 

And the price to enter is extremely low compared to other markets in the U.S

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!