Don, to me I always like to say if your getting into the business as a business owner not an investor per se.. its a lifestyle and unless you and your family can embrace this lifestyle most folks don't get very far..

One of the most common struggles for aspiring fund managers -- current cash flow.Many fund managers are struggling in the short term to produce cash flow for their business.In a typical structure, fund managers (specifically referring to folks who leverage SPVs to invest into specific deals or funds) -- may earn 1-2% upfront as an acquisition fee and earn the rest of their compensation in a profit sharing split once the preferred return to investors is achieved.

Detroit is intriguing to me and from the folks I have connected with, I see value there. 

If property is not redeemed I get a deed in the mail.REally like this play for assets that are inexpensive.. and your paying cash.. risk is minimal to nill and as long as your play is simply rent and keep very long term.. its a genius move.. most folks are so worried that you have little to no competition..  !!!! 

I've seen folks get around this by removing the oven if/when you get either of those scheduled.  

I was giving a presentation in LA about maybe 80 folks at the REIA meeting and my opening question is who in the room is a private lender.. about 60 hands shot up in the air.. this is ground zero for finding your borrowers.. you get to meet them forge relationships with them go check out the deal etc etc.

Verify character of folks.

Just trying to figure out if you'll be living in it while doing the rehab (and therefore local and able to manage folks) or doing it from afar.

You are in the right place to connect with folks! 

Lots of folks at that one have properties where you are looking.