Hi all, been listening to a variety of information over the last several years I’ve lived outside Detroit.

HI StuartThanks for the detailed reply.Part of the research process for me is posting in the forums and hearing a variety of responses, since many times online sources are just promotion of services that solve a problem related to the search term.

Apartment developers in particular are subject to a variety of regulations across all levels of government.

As I matured in my career I have expanded my lender network and product line with the goal of carrying a very wide variety mortgage products at the best rates.

Starting in Highlands neighborhood (or northside) which used to be a very rough part of town, is now the one of the top 3 most desirable are in the metro and this has slowly trickled down into neighborhoods south.I am an engineer so I love to base my decisions on data, so for example looking at census data, I like to look at % of high income earners in an area to gauge if I should invest or notFor 80204 which includes the neighborhood of Villa Park, in 2010 the % considered upper middle/high income was 4.2% of households. 2022 census says that now it is 40.5%On the other end is 80219 which includes the neighborhood Westwood which would have the lowest income area on my list, in 2010 Westwood had 4% as well, by 2022 it had 21.1% high /upper middle income earners.I have properties in both and tenant applicants are a wide variety (lower income folks on rental assistance to high income earnings wanting to rent in an area before buying a home) so its hard to put a property class in this area. 

Appliances and fixtures were old and tired.Basically, the core bones of the property were good, but there were a lot of things that seemed ripe for easy improvement.The location was great, right next to the town’s primary commercial district, with a grocery store 100 yards away, coffee shop/bakery, Post Office, drugstore, hardware store, hair and nail salons, barber shop, dentist, bank, a half dozen restaurants, and a variety of other shops and services.

I've had several bids, all much higher than the original, unrealistically low contract price, with of course a lot of variety in the price, experience, and track record of various builders.

But I have lost confidence in the decisions of this group for a variety of reasons. 

Guests love a taste of the local flavor.Tech perks: Smart locks, fast Wi-Fi, and streaming services are expected, but adding something like a smart speaker with local guides or even a coffee station with a variety of brewing methods (French press, drip, espresso) can enhance the experience.Guest Experience:Personalized touches: Leave handwritten notes welcoming guests, or even offer a short list of personalized recommendations based on their preferences (e.g., favorite type of restaurant or activities).Thoughtful extras: Think of small details like board games, books, or even a Polaroid camera with a guest book where people can leave their pictures and memories.

Whether you should use a hard money, broker or private money would depend on your goals & priority (speed, communication, pricing, etc) so highly recommend considering a variety of options!