Although I’ve been investing in real estate, both directly and indirectly for 45+ years, I still get a “queasy” feeling when an investment does not perform as expected.My “aha” moment occurs when we reach the point when, despite the investment problems, we’re able to still show a good/substantial profit at the end of our holding period.  

The lock-in effect of the period from 2016-2022 when interest rates were super low, causing owners with those low rates to not want to sell? 

We have extended our search to the surrounding counties outside of Pinellas at this point but would appreciate the opportunity to run numbers by you for a second look.

Hi Grace, I have an amazing DSCR lender that has no seasoning period requirement and an amazing property manager (both a lot of my clients and myself have used!).

If not, ride out the 12 months with the hard money lender.People have to make good choices and not over extend themselves just for the sake of buying something they really can't afford or that doesn't make good cash flow.

Make it your business practice to post the notice to pay or quit precisely on the day after the grace period ends, every time.

Then, after I had experience and several wins, people were willing to partner with me on deals, or lend to me in second position for a short period of time to help with the down payment and with repairs and then I would pay them back when I would refinance.

The payback period can be anywhere between 3-7 years depending.

-Build a strong network in Detroit of real humans over a period of months, buy a better deal, hold it for 10+ years, weather early storms:  better chance for success.Even on that latter deal though, are you going to cash flow in month 1 or year 1 or even year 5? 

@Ethan Borshansky, There was a brief period of time in the early 2000s when this type of "leasehold exchange" as described above was fairly common.