If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

I'm looking to identify a builder with the following characteristics:1) Eager to grow his/her company and reputation in the market2) Has produced at least five high quality builds in Arizona which are at least 4K sq ft  3) Has proven track record of completing builds in a timely manner4) Personal capital to allocate to projects (optional, but ideal)Please reach out to me if you or someone you know might fit these criteria. are you set that you want luxury?

Great to hear that you are exploring your investment options and learning about the different options you have.

I am a land lord but don’t own my residence.What are my options?

Private Money Lenders are going to be hard for a primary residence as it is an investment and typically they want to see a return prior to two years - also, the house would need to be purchased at a discount which would limit your options on a primary residence - now if you are looking for something that needs some work that you are planning on fixing up, it would be a little more feasible.

There are plenty of investment opportunities in the Detroit area as well which have the potential to offer immediate value, so I would weigh your options with care. 

I was wondering if you know how to answer this question without providing the word “Skip Tracing” to them.

Congrats on having an option. 

Thank you all for sharing such wonderful resources and valuable information.

Mashvisor – Helps compare long-term vs. short-term rental potential, especially useful if you’re weighing both options. 4.