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.

Perception of LiabilityLicensed agents are held to higher standards and may face legal consequences if they don’t meet fiduciary duties.

All well and good to dream big, but you need to understand the practicalities and probabilities of getting the deal to closing. 

I would love to chat with someone who is a mortgage broker to understand your day to day workflows a little better.

The property will need to have a slight rehab to get it up to STR standards, but when complete it should easily be a $200k Gross booking revenue property.

Bob - I have five occupied padsplits under contract right now with Fernando Corona and have closed several with him this year.Normal DSCR brokers have issues getting this through underwriting - it's important to work with a broker / lender that fully understands how to get these to CTC.I'll PM you

And I definitely understand that HOA fees are getting unreasonable and on top of that, insurance companies are increasing prices.My reason for moving to Miami is for better quality of life and more opportunity in other arenas as well.

I’m glad you were able to move on without signing, shows the agent understands/is a good guy/gal, or knows other firms wouldn’t require such a signature. 

If you can learn to understand the fundamentals of a given market you can make informed investment decisions. 

Those types of things can throw curve balls but in my opinion, at the end of the day it wouldnt be worth much without friends and family and I understand his loss.