Welcome to the community and be ready for a huge amount of information at your finger tips.

Not essential but I've used it for other things and it's really cool when you are building out a new process, design, or work flow with your team as well.  

Best to start the process to sell.If you decide to keep it, you should talk with the contractors - you don't need to do high-end renovations for a rental.

Welcome to the community and be ready for a huge amount of information at your finger tips.

Welcome to the community and be ready for a huge amount of information at your finger tips.

Many investors do this and don’t see issues, but it’s best to proceed carefully and know there’s some risk.You don’t necessarily have to inform the lender, but it's wise to consult a real estate attorney or CPA to guide the process and minimize risk.

In Metro Detroit area, police will not remove these types of occupants (they are afraid of scamming landlord having police remove legal tenants), calling them a "civil matter" forcing landlord to start court eviction process.

-repeat the process every year by acquiring one house every year with the appropriate income qualification

The appraised value seems low and I am trying to understand the best strategy to challenge this value and the cost / benefit of going through the condemnation process. 

Thorough vetting is absolutely essential in private lending to mitigate risks and protect your investment.Here are a few additional tips to enhance your due diligence process-Assess Their Exit Strategy: Whether it’s a flip, rental refi, or sale, make sure their exit strategy is realistic and aligns with market conditions.