A failure in the mortgage markets will lead to another credit freeze then we are all Screwed royally.  

The true sign of failure will be if they decide to start QE4(yes...for the fourth time) or negative interest rates. 

Failure is not an event.

Failure by the Buyer to so notify the Seller and/or Seller’s Broker in writing, within the calendar days, shall constitute an election by the Buyer to proceed with the transaction.

Investment properties are not where we live and over-improving is the #2 reason why landlords fail (#1 - failure to manage to the lease). 

A failure of an educational system run by government employees, but I digress.All this knowledge and understanding, while vital to becoming a successful private lender or investor, will bring you only from the basement to the ground floor.  

I'd love to hear from people who have had both success and failure in the Detroit market.

Some of the key areas to consider beyond vacation rental permit eligibility, price, timing and financials are the intangibles such as:- Interior Design- Furniture and furnishings- Vacation Rental Permit Application, process and proceedure- Maintenance - Management- Emergency supportClosing on a property is chapter one but it's the rest of the story that determines your success or failure as a vacation rental home operator/owner. 

Success or failure there will certainly depend on your ground game.

I already sent this tenant a failure to pay rent notice (10-day notice) and vacate notice (60-day notice) yesterday.