That process has direct lender involvement.Where the challenge lies, is when unsophisticated "investors" with no experience, no money and no reserves use creative financing (often called wrap, subto, lease option, seller financing, land contract) to purchase properties and along the way there is a "hiccup".

Hey man that's a challenging situation.

@Jay Hinrichs @Jonathan Greene @Nicholas L.you have all helped me to really consider what type of challenge / path I want to get into, and all this information is excellent.

Very challenging if not impossible to make lot ratios work if the existing property isn't conducive. 

Also would love answer to the following: - Are there any specific challenges or advantages you experienced compared to a JV structure?

I suspect that you'll have better luck with a local bank or private money, though it likely will still be challenging. 

. :) I learn a lot more from my mistakes than what I (very occasionally) get right on the first pass.

It was a challenge How did you find this deal and how did you negotiate it?

Challenges?

It’s a market with its own set of challenges, but it’s also packed with opportunities if you understand the nuances.Happy to help if anyone here has questions about Detroit investing or wants to explore what’s possible in the market.Looking forward to continuing our conversation, Mattin!