We are going to continue targeting multifamily in the SE Michigan area and are excited to continue strengthening the partnerships we have in place.

So I would say, no, I would insist, that though your buyer may have had issues getting the predicted ARV, it is not because we were wrong per se, but because of one, or some, of the many other issues, totally in your buyers control, not in ours, that arise throughout the life of any project.

However, the cabin market in Hochatown, and SE Oklahoma in general, cannot be looked at in a vacuum.

I’m in SE Iowa.  

I'm partial to the SE part of town - basically a few pockets here and there around Harry/Woodlawn to about a half/3/4 mile west then south to Pawnee/I35Then close to Rock Road on east.  

And, we’ve done it all as long distance investors from SE Asia where we serve impoverished families in our clinic.

Not investors per se, but more of the people that have rental properties more by accident than design. 

I still suggest you and your borrower se an attorney.

You can deduct all ordinary and necessary expenses, such as taxes, interest, repairs, insurance, management fees, agents' commissions, and depreciation.Do not deduct the value of your own labor or amounts paid for capital investments or capital improvements.The good news of passive investing is no SE tax.

To be able to get approved for a 3 or 5% downpayment, for 3% down it would have to be the first property you have ever purchased and you have to live there for the 5% you can do that once per year, which you also need to "intend" to live there, some are able to skate by the rules per se, and not actually live there if their situation changes after getting the loan.