First you have to face the local municipalities & will be extremely difficult to get the zoning approved. 

An extremely detailed scope of work along with an extremely detailed contract, are the keys to a project that is going to finish on schedule and on budget, without surprises. 

Additionally, the boots on the ground partner has to be extremely trustworthy.

My experience in the last 15 years is that except in the most extreme circumstances, an investor is going to need some of their own capital to make a deal fly.

Personal guarantees are EXTREMELY common.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

I was conducting an extremely seasonal business and after 8 years of operation the business was insolvent. 

It is extremely hard to find programs for 0 experience simply on the 1-4 unit side of ground up construction. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Rentals are extremely difficult to make pencil right now but would only personally consider higher end projects because the costs are far easier to absorb than trying to build in lower value neighborhoods.