Just because other people might be getting away with it for now doesn't mean they couldn't crack down on you after you buy a property their.

But based on that area and depending on the size of your cabin, you may not be as far off on your price as people here think - even with your lower revenue numbers (assuming you didn't accidentally give us net instead of gross revenue). 

Raise fees on building permits, give tax credits on renovations.Suburban sprawl really hasn't been a good thing for the US.Of course, it's all about supply & demand.But, if you can figure out why more people want to live in Hazel Park (leading to teardowns & rebuilds) versus south Warren or Eastpointe (nothing happening) then you can make millions.

In the end we had to pay to turn the space back in to a white box/shell and closed with basically zero physical assets.

I'm certain there are good strategies people are employing.  

Although I’m guessing most people in this position would use Wordpress or something more customizable.

Sentiment:  I want to see more people hate real estate. 

It feels really unethical.Your comment: "I got a call from my attorney"I'm curious, since you have legal representation that you are presumably paying for, why are you asking people you don't know, who aren't there, haven't seen the paperwork, don't know the local laws or the situation, instead of asking your attorney?

Eric,, I think why people go for the fund model is the idea that they are spreading their money into multiple notes being held by the company.. while in theory this is great but as you noted you don't really have any security compared to being the beneficiary of the debt instrument IE debt is in your name. 

Again, if you learn some of the basics, you won't be so nervous about the problems you will eventually face.Start with BiggerPockets Ultimate Beginners Guide (free).