After getting a quick overlook of it with our title company, we decided to restructure it a bit.

The unfortunate end result of Detroit's restructuring is that the working stiff and the retiree will probably take the brunt of it.

(We'll subtract the balance from the 1.5 - will bring it down to about 1m)D) I will restructure the property from 2 to 3 apts, potential 9k/mo rental income after reno. 4 mos with no income?

Do or die.See how far you get, before you go ask for help.This is an exercise in itself as you completely redesign and restructure your mindset.

Those that go into default will more than likely file bankruptcy to protect their home and restructure the debt because of the equity and the higher costs of rent.We are still at near all time lows in foreclosureWe own around 250+ notes and 90% of defaulted go to BK over foreclosure at this time .

I love to see old cabinets painted and restructured to fit the new space!

Hopefully, that makes sense.My one current idea was to see if SellerA would assign/transfer the land contract to SellerB, and then just have SellerB restructure the payments.

Examples are foundation work or restructuring the property, adding a bathroom, increasing the size of kitchen, building an addition,… These are considered high risk flips as costs for repair my substantially eat into profit or make it a loss unless you have done it before and know exactly what type of work you are getting into.For my first work, I am more interested in doing a rehab with most common improvements such as paint, carpet, broken windows, leaky roof, counter tops, garage doors ,…. that will prove me with a good learning experience as well as a reasonable profit as a bonus :-)

You may be able to restructure the contract by taking out the words "acquisition fee" and instead receiving compensatory equity.

So it looks like I needed to restructure my retirement plan and begin a LLC.