Your best security is your neighbors , they are right there and see whats going on at your property .   

I will secure the loan for everything.

Over-budgeting is critical to ensure that renovations don’t eat into your profits.Market Fluctuations: If property values in your area do not appreciate as expected, or if you face a market downturn, the amount you can refinance for may be lower than anticipated.Financing Challenges: Securing financing for the initial purchase and rehab, as well as refinancing after the property is rehabbed, may be challenging, particularly if the property is located in an area with fluctuating values or if the rehab work doesn’t immediately improve the property’s appraised value.Tenant Risk: Rent collection and tenant management can be unpredictable.

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

Securing Lending shouldn't become a hurdle is the Deal numbers works. 

Quote from @Matt Meier: Good morning,I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route.

Texas tends to favor landlords in these cases, but follow the legal process exactly—any misstep could delay things.As for protecting against retaliation or property damage, installing security cameras (if you haven’t already) to monitor common areas might be worth it.

No need to be emotionally attached to any property, or the time you invested in finding this "deal"

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Since they are responsible for maintaining the relationship with you after the transaction closes, this approach adds an extra layer of confidence and security to your investment.