How did you find this deal and how did you negotiate it?

Quote from @Jaycee Greene: A few things I noticed, in addition to having the tenant pay the utilities are:1) Incorporate annual increases in rent higher than 2% (in your area, maybe 4%-5%) with a slightly smaller increase in operating expenses (say 2%-3%)2) With a gut rehab, I'm not sure why you need to spend $128/month on cap ex, at least for the first year or 2.3a) An 80% cash out refi is probably going to be hard to get.

There are strategies that make the numbers work, you have to be creative. 

I'd be happy to share a quick video overview of the software.

Happy to help!

I would also add, a contractor that you can buy materials for and they know how to put them in with little to know direction (reduces the management time of the project).

Prices in Detroit are likely to keep going up.

I take it from your comment that your preference is to Ground lease?  

Private money refers to individuals who offer a similar product but lend to friends, family and other investors they know. 

Lots of potential How did you find this deal and how did you negotiate it?