Some markets and I have heard the FL is incredibly slow.

I'm told the screening criteria credit score is on the higher end .But most of the listings I see are also on the same league.

Because in this case zoning took a 155 acre piece of real estate with incredibly prime location, and made it only worth at maximum 145 acres miles outside the city. 

Prepare financially by saving for down payments, improving your credit score, and setting aside emergency reserves.

And the truth is, it’s hard to pinpoint because Detroit is such a block-by-block city with an incredibly large footprint.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

@Beau Alesi wow that's incredible! 

Sorry to hear that happened Ashley - that's incredibly frustrating.

It cash flows for us incredibly well so it wouldn't be a hardship to keep on renting it out.

Fico while they will look these are not credit score driven loans like those buying rental houses or houses to live in...