Or is the PM also sourcing the deals?

I'd love to source from Craigslist and FB like @Michael Baum but have often struggled.  

Companies like State Farm, Allstate, or Chubb often come up in conversations, but comparing quotes with independent brokers might give you the best value.Since you're in a general partnership, it”s critical to clearly define liability exposure.

If you have any intel (or leads), or even if you know a great source to check out, I’d love to hear from you. 

We used our own cash we had no private investors.The other critical part was that we negotiated a 3 year wind down if our bank did not renew this was critical in 09 it allowed for a semi organized wind down that most of us in the HML space were doing in 09 to 2011 with all of our defaulted loans..

Also the ability to repay -  your source of income. 

If you’re just looking for money to fund deals and you’re thinking the source could be IRA money then it shouldn’t make too much a difference to you whether the investor uses their personal funds or IRA funds.

I am always looking for good sources of information, which I might share with our friends who are reading.

Detroit is very much a block-by-block city, so having local knowledge is absolutely critical.

Meet ups could be a good source too since you’re in a big market.