Research, advertising, and I'll run deal analysis.

MikeI find most multi family deals in C areas that are in the verge of gentrifying or in tertiary markets like you are looking at!

I just bought a SF rental from a wholesaler in Detroit (just north of Bagley and south of Ferndale) and have another on market deal under contract in the Morningside area.

Purchase price: $265,000 Cash invested: $40,000 3/2 1728sqftLake access What made you interested in investing in this type of deal?

I'm a mortgage broker and can offer just about any product QM and non QM with competitive pricing. let's close some deals!

I've found that Chase has great deals (almost no closing costs) for 5+.   

Replace to keep the deal alive?

Hello, everyone.I'm a newbie looking forward to getting started and getting my first BRRRR deal.

Assuming the leases clearly state a security deposit amount, the seller knows that the tenant will be wanting a refund when the lease ends (after closing) so should be an easy reminder that you need those funds credited to you at closing from them to refund to the tenant when needed.If the seller spent the tenants deposit, at least the credit to you at closing comes out of the sales proceeds (seller just nets that much less at closing) and assuming they have sufficient equity should not be a big deal.  

Hey TJ, welcome to the Forums.Wishing you the best as you work toward that first deal this summer!