Bay Area, did a local renovation where I was able to do walk throughs with the contractor, and have pretty good control of this property, can check on it multiple times a week.

The same players involved with some additions along the way.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

And we are just beginning.Norada Capital Management ( Link )30251 Golden Lantern # E-261Laguna Niguel, CA - 92677-5993Professional poker players call it a “tell.”

If the answer to both added questions would be "yes", then you have a potential goldmine here.Combining the seller's concerns, and the reality of a big down payment being a negative to the seller (see Q: 1), you should be able to set the terms, with a lower DP, and controlled interest rate, to have this property CF and,...be able to sell the package to another REI down the road,...as long as you buy this using an LLC (a new one). 

You will get the greatest returns and have more control. 

The market has not yet settled out to 2 or 3 major players. 

I would also be concerned with land rent going up over time, and having no control over that.  

Many of them struggle to relinquish control and delegate tasks to specialists who are better suited for those specific jobs.

., constructive receipt doctrine, effective control over nominal 3rd party relationships, lack of genuine risk bearing and compliance with transactional terms, etc.).