By state law (I am also in MI) we also had to notify the tenants where their security deposits were now being held.

First off, my current situation is as follows:I am 34yrs old and own a 9yr old tract built home here in Indianapolis 3BR + Game Room 2.5BA 2-Story, that appraises for $130K with a monthly payment of $965 including P&I, MI, Homeowners, HOA Fees with just under 21yrs left on the FHA mortgage at 5.75% - approximately $107k left on the loan.

Structure Type Households (000s) Percent Residents (000s) PercentSingle-Family 13,323 33% 39,181 40%2 to 4 Units 7,621 19% 18,753 19%5 or More Units 17,816 44% 36,562 37%Mobile Homes 1,309 3% 3,664 4%Other 166 0% 294 0%Total 40,235 100% 98,454 100%Large Cities: Population, Housing, and RentersCity Names Population Total Occupied Housing Units Total Apartments Apartments Percent Of All Housing New York, NY 8,244,910 3,023,330 1,514,341 50%Los Angeles, CA 3,819,708 1,304,145 545,250 42%Chicago, IL 2,707,123 1,016,342 288,115 28%Houston, TX 2,145,933 774,630 292,875 38%Philadelphia, PA 1,536,471 576,429 89,510 16%Phoenix, AZ 1,469,484 519,369 109,413 21%San Antonio, TX 1,359,730 482,783 114,840 24%San Diego, CA 1,326,183 468,194 135,928 29%Dallas, TX 1,223,378 455,371 176,882 39%San Jose, CA 967,478 305,460 68,190 22%Jacksonville, FL 827,909 311,369 60,646 19%Indianapolis, IN 824,232 324,438 66,434 20%Austin, TX 820,601 331,582 125,401 38%San Francisco, CA 812,826 342,706 130,869 38%Columbus, OH 796,014 322,314 88,469 27%Fort Worth, TX 760,758 263,676 55,177 21%Charlotte, NC 751,074 292,715 69,808 24%Detroit, MI 706,640 253,629 37,409 15%El Paso, TX 665,577 219,568 37,451 17%Memphis, TN 652,078 245,836 53,958 22%Boston, MA 624,969 251,745 88,669 35%Seattle, WA 620,778 282,492 99,602 35%Denver, CO 619,968 266,624 86,859 33%Baltimore, MD 619,493 239,251 51,505 22%Washington, DC 617,996 268,670 111,192 41%Characteristics of Apartment Households and All U.S.

My name is Vance McClenton and I'm a pretty new investor from West Michigan.

Andrea M.:I

In Michigan, build costs range from $100/sqft to $130/sqft.

If it turns out to be a great deal, finding a buyer should be a problem, but that is your first step to make sure you have enough profit in the deal to have it make sense for you and for your end buyer.I have a pretty good contact in Michigan who works a lot with foreclosure situations.

I have an individual that I work with on a regular basis and he would like to start doing private/hard money loans in Michigan.

Current prices that I got last 7 days, $1000 for a attorney in Michigan.

Thank you all for the welcome, everybody seems as eager as I am to network and meet people.Andrea M. and Harry M., I am definitely focused on buy and hold.