I really like the idea of owning this property because it is in a nice location, I can collaborate with my Dad's beach house in case any renter needed additional rooms or wants to rent out 2 houses next to each other (my Dad said he would rent his place out too) , decent sized lawn on the property, and the house needs to be fixed up on the interior (wood paneling/new dry wall, old carpets, out dated furniture, and older appliances).

I'd love grab a drink next week and share my experiences and collaborate with you. 

Collaboration not competition!! 

Here's a brief description that I've put together describing this process.Construction Management as a Stepping Stone to CollaborationThe CM delivery method serves to better align the Contractor’s Goals with those of the Owner.1.Fixed Fee – no markups on change orders2.Transparency – Open book bidding and accounting allows Owner complete access to project cost records. 3.Flexibility - Allows for multiple scopes to be bid and analyzed by the CM and Owner prior to committing resulting in huge flexibility on the project scope.4.Collaboration – Owner can use the CM Agency as his “Right Hand Man” truly representing the Owner’s best interests.5.Non-Adversarial – Because the CM is contracted on a fixed fee, there is no arguing over change orders.

I've combed through previous posts and found a few answers to my questions, but I would like to have a collaborative discussions with people successfully either BRRRR, or Portfolio Loans, or Refinancing within the Metro-Detroit area.  

Let's grind, collaborate and educate each one of us.

If you feel there is a way we can collaborate and work together, please feel free to reach out and we can discuss.

Or are you collaborating with other investors?

Thanks for listening HI Rhonda,Its very typical big banks do not count rental income, atleast recently acquired or non seasoned properties that have not been on your tax return for 2 full years each.I've had similar experiences with big banks and credit unions (not all but most) on the borrower/investor end.Fortunately for me I am a lender day to day so often times I will have to help collaborate on the structuring of the loan package to make sure its received in the best light possible regarding debt to income/ assets/credit or how its perceived.

I'm focusing initially on the buy and hold strategy and hope to diversify into other strategies (flips, multifamily residential properties) in the future after gaining further experience/education.Looking forward to further collaborating with members of this great community.