But, know what you want to accomplish beforehand.Creative Finance is a great way to buy properties when done properly and lawfully. 

And how do I roll this into a cheaper mortgage (my dti would be too bad for another conventional).Maybe a lender would be able to consider the electric "working" with the proper inspection?

One thing I’d stress is the significant difference between Detroit proper and the surrounding metro areas.

Hey BPers!
Just curious where each of you stands on this one.  I realize this is a case-by-case basis.  Sometimes the tenants plan on paying a month's rent at two places to allow a less-hectic move.  However, this co...

If the tenants don't care for the pool properly, it could cost you thousands to fix.

Proper underwriting - this includes an appraisal, loan app and full underwriting to comply with CFPB regulations.2.

Just ideas, talk to your CPA to make sure you are doing it properly. 

Hardly anyone can prep properly, mask or dropcloth properly, cut in around trim and windows, get even coverage, etc. 

You will need an attorney to properly structure the partnership and you will make sure you do it correctly.

If the proper reports and documentation are not completed, you run the risk of failing an IRS audit and the cost segregation not being honored.