It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further.

I thought I read somewhere about adding a clause that the seller will not extend, modify or otherwise alter the existing leases in any way ( I can't remember where I read this). 

Should I steer clear or worth the investment?

I purchased the 3/3 single family property in 2019 for 225K and it's now worth about 350K.

That juice may not be worth the squeeze for most.As a result, the majority of investors are looking at BRRRR's for long term buy and holds in Detroit.Happy to talk through the nuances or send you some Detroit specific resources.

Its not worth it.

Even if the meetup isn't MTR-specific, any REI meetup is worth your time. 

It’s a bit of a process with several steps, but it's totally doable and well worth it for the added income!

Worst case scenario is the borrower convinces the judge that the property is worth less than the amount owed and the judge allows a “cram down”.  

When you’ve reached a moderate net worth, say $500k - $1,000,000 keep 10-20% of your assets liquid STAYING POWER6.