Get the lien release at final payment from ALL contractors and ALL subs.Also, it is YOUR responsibility to make sure these contractors and subs are licensed (meaning you need to check with your state licensing board to make sure they are active and current) as well as insured (ask for their insurance evidence, including workers comp.I only pay progress and I personally like to buy materials myself and avoid the mark-ups.

A lot depends on your market activity and whether or not you need an agent to help promote it.

So I need an active business, which could be fix-and-flip, wholesaling, or a non-RE business.

Be active on BP.

I sort of stumbled into my Detroit property without actively looking for it.Still have a lot to learn and this is an outstanding place to do so.

Welcome to BP Nation Frank, stay active and engage the community.

I am an active duty military officer so my situation is unique in that I will be moving around...this might prove to be a challenge so any and all advice would be more than welcome.

Picking up on the OP's original question regarding % of FMV (of the collateral property), what are you guys that are active in this market seeing in terms of discount from FMV?

Congrats on the rental property and I hope you decide to stay active on the forums and blogs.

Actually i can and I have the possibility to travel in the US quite often if needed, apart the problem would be for the immigration (max 90 days as tourist) unless i set up an LLC and self employe my self, but this I think would be a secondary issue, let's say after the rehab and flip is really profitable.Upon this I also would have the curiosity if I may ask, what the requirements or what the way I can be active partner business.