I don’t think an agent will be blowing advertising money on a $30k house in Detroit as a matter of fact the selling agent doesn’t even show the home they call it “drive-by” showing.

in other words, if the roof blows off a FedEx building, do they typically get a loan to replace it, or are the investors assessed? 

Ultimately its the brokers, PM's and lenders who are advocating for this strategy because they are collecting their fees.

It's hard to say offer amount without knowing the rehab part since that could blow this out the water.  

Final thought is to make sure switching lenders doesn't blow a contingency and sink the closing that way. 

The pro development and affordable housing advocates use the term NIMBY, but I suspect it is the rare person that buys in a single family zoned area that would be thrilled to have 17 units (qp16 additional units added) in the lot next to them.My initial protege was the land source on this effort.  

There are many people on this site pushing those locations that have not historically kept up with inflation.Btw I advocate all newbies start local even if their local market has not kept up with inflation.  

I just always like to play devils advocate and say what we see in the marketplace when it comes to raising or pooling funds for large scale developments and entitlements, there isn't any interest in luxury.  

I have no idea what performance of the first two funds has been like, and maybe they're blowing it out of the water, in which case they might partially justify a more expensive carry regime.

Hey Sarah, I'm a big advocate for self-managing even from out of state.I manage my 12-doors in Detroit and live in California.