Quote from @Jason Hatfield: @Jaycee Greene  they require a non refundable deposit and give 48hrs to see proof of funds I would suggest developing a relationship with an HML/PML that would give you a "guidance line" that would basically be a "pre-approval" for situations like this to present to the buyer/auction company.

The population is officially growing again, and there’s been a lot of investment in infrastructure and development in recent years, which makes it unique compared to some other Midwest markets.One thing to keep in mind, though, is that Detroit is very much a block-by-block city.

They should also have proposed or preliminary site plans approved for the remainder of the development.

After analyzing hundreds or even thousands of deals, you develop an intuitive understanding of not just the numbers but their sensitivity.

Summary: 7 loans outstanding: 4 in foreclosure, 1 in default - trying to develop a plan before I begin foreclosing, 1 current, but has needed multiple payoff extensions, 1 current with no issues.

I would confirm this first.Otherwise, I just use Excel and develop my own pro forma from there.

In Columbus, you can still find the 1% rule and there's amazing appreciation potential due to how much population growth, job growth, and companies moving/developing there (recently Anduril just announced another 4,000 jobs coming to Columbus Ohio on top of Intel, Google, Amazon, FB, Nationwide, Ohio State University, etc.).

And the changes, such as regulation, city development, traffic flow, building views etc happen very quickly. 

Experienced developers, could you tell me how the process/financing works?

I'd really vet the developer, their past projects, talk to prior partners (GP & LP) to see how prior development deals worked out and how the communication was, etc.