Once you get the deal under contract, your RE attorney will also run a detailed title search to uncover anything else of importance.

It’s been a good blend of cash flow and appreciation for me, and it might be worth checking out as part of your trip to the Midwest.If you want to chat more about Detroit, feel free to reach out.

Remember SEC never took action against Bernie Madoff who stole 42 Billion in a real Ponzi scheme that he gloated about and that was uncovered 5 years earlier by Markopolos who reported it in excruciating details to the SEC.

You are likely blending PMLs with HMLs here, most PMLs lend on a relationship basis and most HMLs underwrite the credit profile and risk of a deal. 

By reminding people of what Latoya Tomlinson and myself uncovered, I'd implicitly suggest that you didn't do a proper due diligence, whichever words I used.

I buy blend and extends for cash nationally where I can extend the lease or backfill.I buy at 10 cap rate or higher.

During the inspection, I uncovered so many issues that I negotiated the price down to $105,000.

I recommend cross-analyzing the blended rate option vs a whole new cash out on the 1st lien.

@Cassidy Burns runs a great one which is a nice blend of education and networking.

It would be important to calculate the blended rate and calculate the cost.