So the choice of tenant would be key.On the flip side, reasons to hold: a very low mortgage rate; probably not the case. 

It’s just not worth it in Detroit especially with the low price points. 

However, at $105 per SF seems very low.

Rents are generally low there as well, but definitely stable.

now if you could get a seller to be the bank I get that you could smoke and mirror those deals.. but i would think those would be picked over low value or properties in the worst areas of town etc..   

Can you tell us what your fees are for this loan to achieve such a low rate? 

I would connect with other investors and go to a few free/low-cost meetups to start and learn from them the strategy and how they learned to do what they did.

As you grow your portfolio, keep an eye out for lenders who offer low down payment options for investors or those that allow leveraging the equity from your existing properties to fund new ones. 

Bad customer service (from the partners), unprofessional client information management, ridiculously long underwriting, and I’ll add this..a low-key throwing of their loan officer under the bus for information “he did not know” or “must have been mistaken” about.

We do not have a resident benefit package, and we keep our tenant fees very low.