Just trying to see what is the best option. 

Hey everyone, I’m trying to decide between purchasing a single-family home or a multi-family property for my first real estate investment in Detroit, and I’d love to get some advice. 

Or, ya know, just spend the next 140 hours trying to get a self-study law education followed by another few hundred hours self-study to sort out how to avoid repeating the situation.That's the reality of it all. 

Is there a contract that must be singed?

I would also try to anticipate their situation and needs and how you could facilitate their exit.

Now they’re not just selling a property—they’re getting a custom solution that benefits them without the headache of trying to squeeze top dollar out of a market that won’t finance it.Now, the structure:You operate on today’s valuation ($448K).They get a down payment that works for you and satisfies their need for cash now.You carry the property, increase rents, and refi in 2-3 years at $700K+.At refi, they get a kicker—a share of the upside—making them feel like they got the better deal.Why does this work?

Thank you for the thorough reply, I am not trying to scam- that is why I posted here instead of making her an offer that came across that way.

You must have the Business tax license & pay all the fees required.  

Our office receives about 50 of these a month from various wholesalers and I always look at ones I don't recognize to see what people are trying.

It can be a very good market, but the why behind your choice may help us give you better advice on how to move forward.Before realtors and property managers, you really need to meet other investors so you are making a good move by trying to do that here, but it would be better if you could do it in person.