There are a couple parcels that I am intersted in but wonder if the banks will look at really low offers like ten cents on the dollar.

I am the guy who is looking at every piece of equipment when driving around town or down the interstate, kind of an “equipment geek.”

Plus you should still be able to get a very good interst rate.

For the 1-4 unit residential properties the interst rate can also be similar or the same, the difference being the down payment; most banks will require a minimum of 20% down for a non owner occupied property.When you go 5 units and up, you're out of the residential conventional mortgages and into the commercial mortgage arena.

Clear Channel wanted to add new digital billboards along the Interstate here and in order to get city approval they had to remove 83 static billboards to get 6 new digital ones approved (and most of those were in places that already had static billboards).

or Interst only?

However, we are exactly in between Cleveland and Pittsburgh, and also directly in between NYC and Chicago, sitting right on Interstate 80.

This area is within easy commuting range (via interstate) of metro employment areas, while being very appealing to those favoring rural living, and there is very little housing available in this price range in the area.They tell me that this type of home can be financed conventionally (still need to verify this), and we'd create our own comps after it got rolling.

Anything east of the interstate should raise flags for soil in the Austin area so the buyer is being prudent asking for the report.

Anyways I'm intersted in detroit so anyone with more advice on their investment stories, how the current market is, or any other first person advice would be great.Edit- here's the article from NYT http://www.nytimes.com/2014/05/28/us/detroit-task-force-says-blight-cleanup-will-cost-850-million.html?