Play the long game...my two cents.  

There are 4 owners with these properties but they are all older and looking to get out of the REI game.

Far lower than most other large markets.The Downtown occupancy rate is listed as more than 99%.Metro Detroit has problems, Yes But it also has SFH that would sell for $10,000,000.00 in today's down market.Metro Detroit and the city itself is very diverse and encompasses war zones AND luxury markets. 

Gracias.Barbara G.Great tips, I need to step my book and CD game up asap. 

We will loan up to 60% of the after repaired value of the property, and we want to make sure that the borrower has skin in the game first.  

Also, you will usually need to put up some cash (skin in the game) to even place a bid on the property.

Most reputable lenders are going to want you to have some skin in the game.

Now, the lender wants to know if you have good credit, experience, etc.There may be some lendings coming back into the game that will only look at the project, but we look at the project and the person.Normally, they lender will want you to have some skin in the game.  

Tax Credits are the game here.  

Now, the more deals you do, bigger and more diverse your buyers will be and have a larger pool of people you can market to.