Hi everyone my name is Jakob, I have a Bachelor of Commerce specializing in real estate and three successful short-term rental properties, I'm excited to grow my portfolio by venturing into the long-term rental market...

They provide no real protection at all for the borrower/contractor relationship.So, if your house had some plumbing work that was done, and your contractor did not pull permits and they did not have the city inspect the work, then when you go to sell the house you will get caught and they will tell you that they need to open the walls to inspect the plumbing and then closing the walls and repainting are on you.The draw process is way too easy, I've learned that it is sooooo worth paying your personal inspector like $100 to do a deep inspection. 

They often have brand new couches, chairs, lights, etc etc for a deep discount!  

I’ve heard of this being done in places like the Deep South but you have to build a reliable team because obviously you need a contractor, plumber, electrician, property manager and a realtor.

It is easy to get so deep into the deals/projects you start realizing you don't know how to get out

There are a few types of people who will buy your end of line flips….1) Those that will only buy truly safe … battle born… “equity the day I buy”.. opportunities And/or2) those that were trained to see real estate investing as a much more risky “ investment”… in other words  “ a buy that “SHOULD” have value after appreciation”With Buyer group #1… if you provide truly investor grade deals that haven’t been stripped of most of the equity before you try to flip, you will build a following of investor grade buyers that WILL pay cash and CAN close “ as soon as the title search is done”… This will net smaller nets for you initially , but you will own a REAL Buyers list… that WILL have the experience… to REALLY CLOSE ASAP.And that will make your machine run MUCH more smoothly.Or2) you can initially max out your net on a few deals as you scape out most of the equity for yourself… but you will only be working with non experienced buyers.. who will buy ….one… realize that they are in WAY too deep… have no B plan.. and they will be FAR less likely to buy again… AND they may never even make it to your first closing .So.. your choice… cultivate a crop of GREAT slam dunk , low work load real buyer investors…. where all you need to do is find the property , mark it up a LITTLE ..and we do all of the rest of the work…Or sew a crop of weeds…I do spend a little bit of my time asking wholesalers to take me off of their lists.I would love to buy from you.I don’t want to spend my time doing the initial marketing.I am willing to pay for your valueBut I don’t buy properties that don’t have TWO exit strategies1) enough equity AT CLOSING so that, at the very least I could sell it TODAY without taking a loss…..AND2) after my expertise …. 

What I mean by that is keeping an eye out for distressed properties or deals you all can buy without feeling the need to dive into another avenue to fund.

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!

I am reading every book I can about real estate and am so excited to dive into my first property.

Micheal for deep dive into staying safe in Detroit.Lastly Detroit like many other markets the prices and returns are directly correlated to the RISK of losing your money.. you go for the very highest returns your taking huge risks being out of country.