My partner was on the acquisitions side of things, so he is extremely knowledgable in novations and creative ways to get the property under contract and I still have an extensive list of buyers, I have built very good relationships with from when I was doing dispositions.I am open to any thoughts on the best way to start and I am open to networking with any one to hear how you got started and what you would do differently now that you have more experience under your belt!

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

Self-managing from a distance is extremely difficult.  

Clean-out crews make a living towing away whatever is left behind.The removal of renters from their homes is also a topic of increasingly broad public concern.

I have 2 concerns with her program.

A few other things to consider:Escrow holdback: Your agent's suggestion for a $3k escrow holdback is a good start, but I’d recommend considering a higher holdback if you’re concerned about damage or delays.

.- Any potential pitfalls to watch out for during this process.If anyone has navigated a similar setup or has referrals to professionals who can help, I would be extremely grateful for your input!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

My payoff was then added to the sellers side, I’d be paid back at the time of closing and seller and buyer then would take 2nd position from seller finance and my payoff on sellers side should have been wired back to me.Never disclosing another lien on the seller side and nothing in the HUD, we theoretically had no concerns.

Property taxes and insurance are extremely low there so my net profits on those two are $1,000/month and $800/month respectively with loans with 6.875% interest rates putting 20% down.