I met both of them and provided a letter with my contact info, my property manager’s contact for repairs, and instructions to sign up for Avail to pay rent (the previous landlord used Zelle).One tenant was cooperative and signed up right away, but the other sent me this text:I understand you're the new owner and want to use Avail for rent payments.

My focus is on providing either turnkey-style space for those interested in temporary, infrequent use or long-term leasing for business folks who require conference room space (or perhaps event space).

Detroit has a mix of affordability and strong rental demand, with properties under $200k that can cash flow if approached correctly.

The city wants to have "Neighborhood Anchors Points" consisting of Mixed-Use and Retail/commercialVisual of all land bank properties The area I will focus in.A break down of cost to purchase all Land Bank properties on each street. 

Right now we're inquiring with our insurance provider to validate proper coverage, checking with our rental license if it covers uses like this, and working through what a lease would look like. 

Appreciate any guidance.Best regards  My recommendation is ot search the forum posts here on SDIRA and lenders as there are very few lenders and you can google and look up here on BP the terms that they provide. 

@Katie Camargo Don't expect the acquisition lender to provide better terms.

A buyer agreement is the legal document that provides the agent with the assurance that he/she will get paid if they work with you to complete a real estate transaction. 

It appears these investors merely provided unsecured loans to RAD who in turn purportedly made loans, although its unclear if that ever happened.

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation.