Since you asked...Our focus for this winter/spring is a mixed use project...we bought a hotel built in 1870 through a purchase money mortgage...we're adding 3 high-end guest suites for a BnB, building in a 2BR apartment for stable cash flow, and opening a gallery for the local artist community...we have plans for a tap room or wine bar in the future at the same site as well...

Check references, code violations, awards, memberships, presence in the community, cleanliness of trucks and staff, BBB status, Yelp reviews, etc.

I established a team at location and would like to bounce my numbers off the BP community and would like to know if I am leaving anything out.PURCHASE PRICE: $195,000PURCHASE CLOSING COSTS $3,000ESTIMATED REPAIRS $50,000TOTAL PROJECT COSTS $248,000AFTER REPAIR VALUE $373,968DOWN PAYMENT $19,500LOAN AMOUNT $225,000LOAN POINTS 2%AMORTIZED OVER 1YRLOAN INTEREST RATE 12%NEEDED FOR CLOSING $25,000/ r

They know what people are willing to pay especially in the area of your property.I would not worry about finding qualified renters, the community is such a tight knit community   that people are looking and wanting to live in Dearborn.

I need the help of the BP community on this one.

It’s in a VERY expensive HOA community ($1200+ a month) and I dont want to be stuck if they owe 2 years back hoa dues... or anything else for that matter...

Hello BP Community!

Join a community pool .  

Check what is available in your area.Take pride in the opportunity you have to provide decent housing for people in your community who have little means.

I'm fairly new to the BP community and it's awesome to meet you all!