While Detroit is in a dire situation and has been for a long time, lots of Rust Belt cities have loads of similar properties that don't contribute to property tax income.

I am looking forward to contributing my knowledge and experience to this site as well as learning for others.

Mixing the two positions can cause problems if you try to foreclose as a lender, just as in the case you cited, the borrower claimed they were partners, but in that case, the partner in default backed out and allowed the lending partner to continue, what if your partner takes a different position, that your loan was a contribution to the partnership and that the partnership was to prevail rather than you acting as a lender?

This is done by the OA as a contribution of capital made on a loan basis, there is only one member in Cell One, Lamar.BAF acquires a property an places title in Cell One, a property holding cell and has Cell A perform the rehab.

Thank you everyone for contributing to the BP forums - extremely helpful for us Aussies who are so far removed from local markets.

However, I feel like I am missing out by not doing so, and decided it was time to sign up.I hope I will be able to contribute as much as I have learned from you guys.Best,Khang

Thank You Karen Margrave, Will Barnard & Brandon Turner, for your time and input.Update - Closed on property.Meetings and phone calls yesterday.Meeting with developer & RE agent today.More to follow.Moving forward with your advice in mind.If there is anyone with additional thoughts, please feel free to contribute.

Welcome to BP John,I hope you find what you're looking for as well as being able to contribute to help others as well~

Pretty much as Dion mentioned, I've not had an issue in SFD, larger multis can especially when a property manager is under contract and letting new leases, the lender can refuse, but if they do, they are limiting the contributions to be credited to the loan, so best to stay in business.

There is no problem having friends and family (besides them being friends and family) forming a partnership (LLC for example) and all contributing money to buy RE, then share the proceeds based on the % of thier contributions. :)