Purchase price: $67,000 Cash invested: $140,000 Mega mobile home makeover sitting on 5 acres.

If you can get 10%, thats really nice for 30yr, but you might want your liquidity back sooner or not take a chance on your borrower for that long.The reason to go "creative" is if you have an actual issue.  

The $10k wasn't the issue (though it's a lot of money), it was the now-or-never nature of how I was required to decide, sign their contract, and pay--no trial run, no sample materials of the course--not to mention they have zero mentors physically here in Michigan and don't plan to.I, too, live in the Detroit Metro area so it would be great if you could connect me with your RE agent friend.- Joe   

So, have a strong, transparent system where you don't need to hide anything.Most investors move to syndications as a passive LP and therefore gets away from the liability issues surrounding owning direct ownership in rentals.

FYI we've changed our approach entirely and have lower fee initial entry points to avoid the challenges of long term project based arrangements so we can catch issues much sooner.

I'm having the same issue as you.

A lot of real estate in D and F areas look great on paper but come with a lot of unexpected issues.

At first I denied all these ppl but as I sit here with no prospects, wondering if allowing someone to rent out the space, sleep in the van at night would be an issue?

I think a lot of people don't focus on the financing side or what it takes to get a deal done but that is everything  It is also one of the more difficult parts to understand.We didn't run into seasoning issues but it was because I had owned it for a year by the time I got the construction loan.

The issue with good people and landlords that do it 'part time' (as is the majority) is that we want to apply our 'good' ethics to a situation or person that doesn't follow these same ethics.