I have always had interest in the finance side of real estate and hard money lending brings together a lot of what I want to learn more about and a lot what excites me about real estate and it's continuous, dynamic state.

I am about to go through the process of getting bank pre-approval, bringing in a contractor to give me some estimates (only plan on using contractors for the big jobs), and planning out the finances to ensure I can make it all work.

We have found quite a few in the 20k to 35k price range that are bring in anywhere from 250-350 net each month and most have leases in place.

I'm a renter now and would bring my current roommate, as he would rent a room from me.

Would this possibly bring a lower price than the min bid?

Anyhow, everday brings to light new info, thankfully I have someone teaching me this all who knows the game well.

When the snow melts awayDo the Cubbies still playIn their ivy-covered burial ground.When I was a boy they were my pride and joy But now they only bring fatigue To the home of the brave The land of the free And the doormat of the national league

Or just be a landlord and let someone else run a business there if they have the credit to rent from you.Check the zoning and other planning issues before assuming you can expand.If you want to bring your price up closer to the seller then get very, very favorable loan terms on a seller financed note.

Jay Gray Holding & Gray Investments, LLC p.s. some of these Detroit neighborhoods still have solid sales (non foreclosure) up around 75-95K so you do the math if you're picking up minor repair homes for 15K and they bring in $800-$1025 a month.

But that all depends on what you bring to the table for the lender that approves you for the loan.