I’m establishing a solo 401k to invest in some flips and eventually multifamily holds. 

They might work for smaller mom-and-pop units (2-8 units), but not for anything larger.Most owners of larger, more established multi-family properties don’t fall into the category of distressed landlords that off-market strategies usually target.

I'd attack the credit report :) 1) lower (pay down) whatever accounts have a high utilization percentage 2) contact each of 3 major consumer credit agencies and get a free report, then dispute every hard inquiry that is *NOT* associated with an open account 3) call the credit cards you already have established and ask for a credit line increase -- often can be done online and they do not verify income, hint hint. 

🏦To get to the point where you can avoid personal guarantees, you’ll need to build your business credit over time:Open trade lines in your business’s name (utilities, vendors, etc.).Make sure you’re reporting payments to business credit agencies like D&B.Keep your debt-to-income ratio low and maintain good cash flow.It doesn’t really matter if it’s an LLC or S-Corp—what matters most is establishing the business as a strong, creditworthy entity.But yeah, in the early stages, personal guarantees are almost unavoidable.

Four of the major criteria they consider when selecting a location are:Low crime: Companies are unlikely to establish new facilities in high-crime cities.

You could get in with an established company that is looking for help.

If your looking for the least amount of risk and biggest bang for your buck I would look for a company that is a reputable turnkey provider thats actually in Detroit and offers things such as an efficient boots on the ground team, all sorts of established local relationships, solid in-house management, an operation that is highly skilled and well versed in section 8, a company that has proven relationships with both out of state and local lenders.

Most enticing is it is located on a very well established street with a wall score of 92 - lots of restaurants, bars, shops and a park nearby.

I found it to be very useful because I was able to 1) get detailed knowledge about actual pricing and 2) control costs by establishing vendor accounts with Home Depot.However, once you have several successful flips under your belt and have built relationships with trusted contractors and are looking to do more volume, transitioning to contractor-sourced materials maximizes efficiency.

Eliminate debt, establish a budget, and save.