Quote from @John Clark: Did you check for houses on the auction list,  or you can check with banks and look for REOs and convert that into a single family home and house hack or turn it into a Airbnb. 

I’ve bought some houses with 0% interest for a year credit cards and a few with consumer lines of credit from banks.

I almost exclusively sell bank foreclosures for a large asset management company, and I also do a lot of marketing for wholesale deals.

His "buyers" - who could not qualify for a loan because, presumably, they could not convince the bank they made enough to cover PITI payments - inevitably defaulted, and after a few months he would evict and start all over. 

We've worked with local banks and been able to finance the three we own without any issues.I don't necessarily know if it's "beginner" investor friendly but you'll learn everything you need in the bootcamp which is the gold standardWe get loans with 3-7 year balloons and 25 year amortization typically

Something which only time can do traditionally.

I think the LLC also makes it easier to open a local bank account, which is convenient to pay utilities or other local bills or your property manager, etc.  

Do NOT buy anything from the Detroit Land Bank!

Since bathrooms are relatively small, using some unique tiles and fixtures won’t break the bank and will go a long way with buyers.3.

Hi @Alan Asriants,I agree that the traditional BRRRR strategy is ineffective in today’s market.