The borrower MUST receive something of value for the deed in lieu, agreeing not to foreclose immediately and giving the borrower time to reinstate, or providing a modification, is that something of value.I need to clarify that these notes are commercial and investment property, so do not have to comply with residential lending requirements.With a deed in lieu there is no foreclosure, judicial or non judicial.  

Did you attend educational courses to enhance your real estate knowledge?

Generally larger commercial properties and shopping centers are easier to classify with hard and fast rules, but to the points above the residential areas really move very quickly and have way more nuance than most people care to admit.zip codes are generally way too large for my liking at least in my market to provide any kind of insights other than macro level economics but even then highways or rivers that cut through a zip code can end up with totally different trade areas.we can get pretty granular with cellphone data and with grocery center data to understand the trade areas and their true boundaries, but that kind of data pull is generally only cost effective for investors doing larger scale projects or developments, and honestly we still just end up getting on the ground and feeling it out, so I generally tell people that the money is better spent on a plane ticket and weekend trip in the area you are looking rather than any kind of "trade area" level data studies.and generally B class in 1 area means something different than another. 

The neighborhood has seen a lot of revitalization in recent years, with an increasing demand for both residential and rental properties.

The issue is the laws should not allow this.https://www.cbs8.com/article/news/local/working-for-you/new-...Adding a single small unit is expensive residential development.  

Hi Steven,It sounds like you and your wife, Renee, have a wealth of experience in the real estate and construction fields, which is a great foundation for starting your real estate investing business.Given your background in residential remodeling and home inspections, and Renee's experience as a real estate agent, you're off to a strong start.

If there are non-residential (e.g. retail, etc) we would love to learn

You’ve become THE expert on residential housing investments in Detroit.  

If you have 1-4 unit residential that's already cash flowing I would go DSCR if you have a ratio of 1 or more.

I have a non-residential commercial mastermind and the fee started at $2500 in season 1.