Once you get done to that level experience really helps, visiting the area or having someone that knows the area, really helps as well. 

Hey Derrick, I have a lot of experience in Detroit.

I’d love to connect with others who are house hacking or rehabbing in the area and share experiences.

The underwriting process is certainly more arduous than most acquisitions but through my personal experiences some of the lenders are far more knowledgeable about the requirements and make for a far easier process for both seller and buyer.

Hi all! Happy InvestingWondering if anyone has worked with Total Quality Lending? Talking with one of their reps today, but wanted to also crowd source some info here : ) Thanks!

But I would remain open to long-term rental as an option as this seems like a more stable option in terms of income, again this may be my inexperience talking.However, I have always  been somewhat risk averse and investing in real estate is always a big venture, in my opinion/experience, in terms of capital.

I don't have a lot of experience, but I do have the ability to exchange my time, so that could be a form a currency that benefits them. 

Sounds like you’ve got a solid foundation with your GC and project management experience.

Our third partner, who has experience with smaller projects in Detroit, also finds this endeavor overwhelming.

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway.