Eating out.  

I have a BA in Environmental Studies and an MBA with a focus on sustainable/green business.

I am just going to eat the holding cost on this deal-just going to cough this up to part of doing business and learning.

Keep in mind that you'll likely eat up to 10% of the sale price in costs/fees/commissions during your ownership and sale. 

@George WendtThe areas I would suggest to you in Detroit is in neighborhoods like Rosedale Park, University District, Boston Edison, Woodbridge, Midtown, Corktown, Sherwood Forest, Green Acres, East English Village, Indian Village, Grandmont and few othe r areas that border some of these areas.

Would you eat the closing costs on the first close and the 2nd close, your investor would also pay for closing costs.  

I eat over at Prato about 3 times a week.  

I went to one of these a few years back.the only benefit of it is if you are real green in the game it'll help get some ideas and excitement going.the $199 three day seminar (or what ever the going rate is now) I would say is worth it for that reason and you may meet some local contacts.

This is where it can be a "dog eat dog" business.

In general, east of Green Oaks, north of Poly Webb and south of Arkansas will keep you in safe, well maintained areas within your target price range.