Detroit is a market where local have a strong competitive advantage over non-locals so you want to use that to your advantage.

I run a full-time planning practice focused on real estate investors, so I wanted to add a few thoughts for context:1.Cash Value Takes TimeMany IULs (Index Universal Life policies) may take 7–10 years before you can borrow a meaningful amount of cash value.

So, we bought the property 2 years ago, based on the valuation of the property considering income from 6 units.The sale deeds (from 2018- 3 sales) I could get from the City and the property tax statements (2023,2024) show that the property is zoned as 411 (apartments).

As a foreign investor, I can get financing up to 80% for the purchase of real estate, so the biggest problem for a more serious project is down payment if you have a solution for down payment, please suggest me. 

So do any of you have any experience with something like this?

Thank you so much for sharing this!

Since the property has vacancies, a buyer might discount for lease-up risk, so that’s something to factor in.I owned a multi-use property in IL that is definitely different than what you're looking at.

The loan is under my name, so the bank will send me - and the IRS!

We have tons of new apartment complexes, so renting out apartments in quads is taking longer since they offer less amenities.

S so I already have a hard money lender that accepts sellers financing deals however they would like to be first position.