I would really take advantage of the owner-occupant loan though and build your portfolio from there

Potential Advantages- Growing Housing Market: The median home price in Shelby has increased by 16.6% year-over-year, reaching $295,000 as of July 2024.

I learned early on landlording that you've gotta be really careful with how nice you are to people, because many will take advantage.

@Scott Mac you've got to know where to invest in Detroit to avoid getting taken advantage of or just plain making a big mistake.Detroit investing is block-by-block, which is difficult for OOS investors to do.Zip codes are statistically too big.That's why we've spent considerable resources ranking Detroit's 183 Neighborhoods. 

However, consider:Long-term market projectionsYour personal financial goalsTax implications of holding vs. selling (consult a local tax advisor)Partnership Structure:Clear, written agreement detailing responsibilities, profit sharing, dispute resolutionRegular financial reporting and meetingsExit strategy for both partiesConsider forming a legal entity for the partnershipFull Bank Financing: If the bank would finance the entire project including renovations, this could potentially be more advantageous.

This would let you use the tax to your advantage to purchase a larger nicer property in an area the provides higher cash flow potential.

VA loans can certainly give you an advantage over most investors, $0 down! 

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Working with a CPA ensures you are fully prepared and equipped to take advantage of the latest updates.

Is it advantageous to have the deed in the event of default?