Now, I understand that nothing is perfect in the real estate business, but I am confident in this project, especially given the current status of the economy, so, where are these developers?

Your investment sounds fantastic and hope no matter where you land that you find the perfect team to support you.Best wishes!

But that doesn't mean it will be easy.No screening service is perfect.

Purchase price: $77,500 BRRRR I just closed on my cash out refinance for this property and it was a perfect BRRRR with NO REHAB...and, it was sitting on the MLS for 78 days.22061 Shakespeare Eastpointe MIFelt this was a good experience to share.Paid $77,500kRehab: $0 (already had a paying tenant and house was "good enough")Appraisal Value: $102k (75% cashed out = $76,500)"Wait, joe you left $1k plus closing costs in the deal""Na, it cash flowed $700+ a month after expenses for 6 months, I got all my money back"1st Best Part...no rehab2nd Best part...this thing sat on the MLS for 78 days***Note:I didn't go into this deal "NEEDING it to be a perfect BRRRR".

Also, they're still people waiting for another 2008 which is a whole other discussion and forum but waiting to buy at the perfect time is such is misconception.

Once I set that to a specific field it worked perfectly!

That makes perfect since!

And you must use all of your cash proceeds in the next purchase or purchases - there is an underlying assumption that you must replace the mortgage although it is perfectly permissable to replace the mortgage with your own cash from outside if you choose.  

Real estate is perfect for entrepreneurs like you.

The numbers always have to make sense from day 1 but don't let the perfect be the enemy of the good!