Hi friends,I'm starting to build a portfolio of long term rentals using creative finance.  I hope to use private capital to fund the entry fees in second position.  Does anyone have any advice on the best way to find ...

Hey @Anthony Sigala many folks might be optimistic about this rule but the "rule" was created during a very specific and particular time in real estate as a way to help newer investors have a framework on how to approach rental properties without going in blind.

And also I inherited the tenant and havent signed lease with them been advised to better honor the same terms of the seller until their contract finish.

Use this meeting to gather their perspective on the property and understand their goals before making any offers.Keep It Informal Initially: Avoid jumping straight into specifics about pricing or terms.

lots to learn here just browse around and you'll pick up on stuff and know where to hone in more im specific areas you are interested in. 

Now, over a year and a half later, he sent a certified letter last week demanding the security deposit or legal action within 30 days.Please advise. 

.: Yes, it is advisable.

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.

In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.

Specifically STR build to rent.