In their view, to be a licensed agent, you must learn the laws, pass tests, comply with a supervising broker and pass a background test.

So now when we CORRECTLY view it this way, we see it's a very VERY slow slog, over many MANY years. 

It sounds like Jim Rohn was right when he said who are the five people you surround yourself with.Your parents and family make a huge impact on what a person's views of money are.I loved watching CNBC back in the dayGino

For STRs, i always bet on it being outlawed at some point so most are underwritten as LTRs, no to low leverage, and/or we view as a family second house.

But there are pros to doing this too.I don't know Detroit very well and I plan on going there to meet with different PM and see their point of view and see if there's potential in all of this.

From the lenders point of view, they want to see that you have "skin in the game" that way if you do run into any complications, you'd be more motivated to address them as you are invested financially in the project yourself.Regarding the tenants, I'm a bit less experienced in that regard.

There's probably no "do this" and it works for everyone so keep gathering different opinions.The way I view a "good deal" might be different than how you view a "good deal"...so let's look at it from an "average" person's perspective.  

No views.

Make sure your rents support the property while you wait and that you have a view that is further out than 36 months. 

So, if your payments are $1,000 per month, the IRS views them as $990 principal and $10 interest, even if your note states that the interest is 0%.