I just want to focus on what I do and whether I can legally employ one or another approach/strategy, to test its viability.

You’ve already got a head start with hands on experience.. and you’re probably way more prepared than you think.That first property can feel both exhilarating and terrifying, so here’s what I’d focus on:Cash Flow & Analysis..

Other than that, you can prepare a simple notice letting them know that you thank them for applying, however they did not meet the criteria, and you can choose to tell them it was based off of their credit, and or background or simply just say that the minimum requirements were not met. 

If you are raising capital from people you don’t have a prior relationship with, and even people who you do, they would regard you as serious only if you had a professional prepared PPM and Operating Agreement.

. - Just be prepared, because a motivated seller typically has a property with issues you need to be sure you can solve.

(The typical commercial loans I use are at 9.5% right now so be prepared for that.)4. 

This allows them to focus on their W-2 jobs, family, or preparing for retirement without the added stress of managing properties.If you’d ever like to connect and exchange strategies, I’d love to help.

Of course, these properties are full of challenges so be prepared before you start. 

Be prepared for the learning curve with Detroit—it’s rewarding but comes with its fair share of challenges.If you’d like more specific guidance or have questions, feel free to DM me.

I've been in your situation and nothing can prepare you for losing a parent.