This might be a workable scenario for me.Lack of experience would not kill this deal for us but it would depend on a few things.Usually the biggest challenge for newer investors is in the amount of equity you have available to infuse into the project.You need to have a cash down payment to secure financing.With 25% Down you would be in a multiple financing offer situation where we're just fighting to get best deal possible and batting off Wholesale Account Execs left and right.

He says "she is dealing with personal issues, her ex boyfriend tried breaking into the unit several times /sending her threats and shes not available".I have replaced the locks for her and beefed up her security in the past. 

Here's an article that explains the law: https://www.payrent.com/articles/wisconsin-security-deposit-...The max you can charge is equal to one month of rent.

Child support and alimony we generally don't consider, social security and disability we do. 620 credit score for all applicants, we will conditionally approve people slightly low on a case by case basis with increased security depositAs a general rule, an applicant that has been convicted of a 1st Degree, 2nd Degree, Life, or Capital Felony, or any crime involving the sale or possession of controlled substances, within 10 years preceding the date of application within the last 10 years will be denied.

You can utilize flexible investor loan programs to help secure property. 

Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

2) I am trying to minimize expenses and explore the possibility of securing a construction loan.

The site and TownPlace Suites by Marriott flag have already been secured.

SinceI possess a social security number, and I am wondering if it is possible to open a new account remotely and online. 

Depending on the state of those facilities it could make sense to secure a renter before renovating so that you build the area out for the long term renter.