And when a rising tide is lifting all boats, groups that amplified their results by using risky high leverage could score some massive returns until the music stopped, then will subsequently struggle to keep the rest of their portfolio out of foreclosure.

@Drew Sygit thanks for the suggestions and tips!

Here are a few tips as you get started:Research the Market: Get to know different neighborhoods in Detroit.

Welcome to the community and be ready for a huge amount of information at your finger tips.

. - PRO TIP: many builders lose their license then create new company in name of wife or other relative/friend.2) Check Better Business Bureau, but don't assume all the complaints are legit. - If there area MANY, then that is a problem.

Some great tips I have learned over the years:  bump every property liability coverage from 300k to 1M. 

@Jay Hinrichsall the questions to ask / vetting tips that @Jonah Gunalda got are really good... but (and with the caveat that i do not invest in syndications) isn't the bottom line that he should KNOW anyone he invests with? 

I just want to make it work as renting the house will allow me to still save some money.Anyone have similar experience or any tips would be greatly appreciated.

Those products do exist.Here's some tips on how to find lenders that write this in Texas and for everyone else just in case it get's researched.1.

I would love tips on how to use this service effectively to identify the best properties that meet my criteria.