Hey Aishan, I personally own 12-doors in Detroit and I live in California.

I know an investor that might partner with you on the lot next door and/or may buy your lot without the title policy.

Security Deposit: 2600Lease states no smoking/painting walls/no hanging things on wallsTenants have moved out and have left two truck loads of garbage to be removed.Damaged doorPainted walls which got on the ceiling and trim Lots of holes on the walls throughout the houseDamage from windows being left open constantly Weed was clearly smoked in the house (smell throughout the place) so we need to deep cleanWater bill wasn't paid so I had to turn back on utilityMissing keyQuoted costs:$450 junk removal (some furniture)$935 for damaged doors/windows, painting cleaning$30 for utility turn onTenants were only there for a year before moving out so a lot of this is beyond normal wear and tear. 

I'm born and raised in Houston and now work with a full service long-term rental management managing over 300 doors - all SF or MU (up to 4 unit).

There are new construction homes about 2-3 miles away going for 190-200,000 but I think they may be a bit larger than what I am building.

Walls are priced one way, ceilings another, then you have baseboard, trim and doors. 

As your deals get larger, especially when they are bigger than the equity in your home, a fix-and-flip loan may be worth considering.I'm happy to share my experience as an investor and as a lender.

From what I've heard, local banks are sometimes more flexible than the big guys.A buddy of mine managed to snag a HELOC on his rental property, which isn't always straightforward, but it opened doors for him.

Are you set on starting with a larger property, or would you be open to beginning with something smaller to build experience?

A reliable lender can fund a loan within days, this opens the door to countless more deals allowing you to get the best possible price.