Congratulations on the first rental and all the knowledge you have gained from it to set you up for the next property. 

I am looking for creative ways to finance a small apartment development in Michigan. 

You could sell the properties with the problem debt instead?

Property manager's are expensive.

If you manage homes built before 1978, there's a key regulation to be aware of: the Environmental Protection Agency (EPA) requires property managers and Landlords Nationwide to be certified in lead-based paint handling.

Google MapsGoogle Maps is a fantastic and free tool for scouting potential properties and understanding neighborhood dynamics.

Look at how many people are doing seller finance right now lending money at stupid low rates and not taking the cash...

Rehab projects are great and they give you the option to sell and move on after completing or to hold the property as long-term rental to generate some extra income.

The county is the second fastest-growing in the U.S. and the fastest in North Carolina.The zoning for the project is already approved, and with our captive audience of potential tenants, I’m confident that all units will be leased upon completion.I’m seeking advice on how to best structure this debt with a private investor or investors in the short term until the property is fully rented and long-term financing is secured.

Purchase price: $325,000 Sale price: $365,000 Wholesaled this 9 house portfolio on creative finance terms to the end buyer.