We human tend to take for the path of least resistance.

Expenses naturally rise with inflation - insurance, property tax, utilities...Those two factors, by definition, result in lower NOI down the road than in-place/year 1 NOI.

Definitely read the book 30 day stay if you're just getting started.

But high level yes, that is how hard money mortgage loans are going to work - if theres a default --> the path proceeds toward a foreclosure since these loans are at their base secured by the real estate

@Michael Shea I will definitely be in contact with you soon. 

@David H.It’s common for them to throw that language out there which even if they broke the law or operated without a license then you are indemnifying themSo I would definitely have that edited by an attorneyFYI property managers do the same thing - some of these PM agreements I see are insane

I'm definitely looking in the City of Detroit because I know the market well.

It's not large enough to out right buy most properties and then start the brrrr process, but I definitely could use it for down-payments.

Always take the path of least resistance.

There are 1000s of lenders so each is a bit different but definitely can help.Thanks,John O