A mentor to partner and begin developing with him.I haven't seen any good coaching program around here.

Plus you still have to actually underwrite the entire deal (purchase, construction, carry, etc to develop accurate CF/profit).

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

You'd be better off building a solid emergency fund and developing relationships with reliable local GCs.

Developing a strong network of individuals who care about bettering themselves, their family, their communities and especially helping out anyone who wants to make more of themselves.

Its a more comprehensive view especially early in your investing journey unless $ isn't a factor.

The rent-to-price ratios here make cash flow realistic, and there’s a lot of revitalization happening that adds appreciation potential.Detroit’s population is officially growing again, and there’s strong rental demand, especially in neighborhoods seeing more development.

What kind of funding can I acquire to develop this property?

Running detailed cash flow projections, factoring in their management fees and expected rent increases (you can use some of the great BiggerPockets Pro tools like the calculators to do this!)

Several large developers have built beautiful high end condo feel student apartments super close to campus which initially depressed rents in houses.