I'm sure the people who wanted the wild west of SIDRA type accounts will be probably disappointed with a new regime.

Be patient, as these types of deals often take longer to finalize due to organizational processes.If you’re unsure about specific aspects, consider consulting with a local real estate attorney to ensure everything is handled legally and ethically.

Since the BK must be disclosed in any securities offering, you would not be able to be a partner in a syndicator/sponsor type deal9.

Ah it's unfortunate that this is the type of tenant you're dealing with in this situation.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I just haven’t had much experience with underwriting those types of properties, so I’ll definitely need to dig into that more.If you have any advice or resources for underwriting smaller multifamily deals, I’d love to hear about it.

The first type is more hands on, direct engagement with the tenant and the property, the other one is more hands off, and work at a distance. 

None of those types of loans allow LLCs, therefore, that lawyer is incorrect.

There are 3 different types of units, studio, 1 bed, 2 bed.

Just moved to North Florida and looking for a CPA who’s familiar with these types of scenarios.