Thank you for the reply, Jay.

New to buying properties there. 1) We need a place to live for 1st year, so we buy a duplex in cash using an LLC to own it.

High-net-worth individuals, private lenders, or experienced investors looking for passive income may be ideal partners.

I have a unique deal that the property owner is just wanting the builder to build him a home for "free" and he will sign over the land.

We've ranked 183 Detroit Neighborhoods for a better approach, yet warn clients we/they still need to evaluate the block before buying.

Contract for deed seems ideal as you could be making payments to him, which helps him pay the mortgage and extra for his apartment/travel.

This is not the case for the majority of metro areas across the US.In less hyperbolic markets there wasn’t an intense amount of speculation so operators didn’t pay high and are weathering the storm on interest rate resets and are finding a way to refinance Deals with maturity walls.I am finding that a lot of killer deals with my clients are happening in the sub 50 unit deal space for those who need to sell, because there’s much less competition in a chase for yield.  

Since your aunt and stepfather currently own the property, Proposition 19 doesn’t apply, meaning you won’t get the parent-child exclusion for tax purposes.

I highly recommend investing in a property management software, such as Hospitable, for syncing your calendar, automating messaging, and scheduling cleans, as well as a dynamic pricing tool, such as PriceLabs, for optimizing your pricing based on market demand, local events, and seasonality. 

I’d recommend keeping an eye on https://www.eventbrite.com/.You can filter for events specific to multifamily.