We're working with a mortgage broker local to us and he has put us in contact with Lendbase as well.

You don’t get that type of return in your STRs straight up or risk/hassle adjusted.Industrial properties the demand analysis is always local and not nationwide.  

Experts/ Landlords, please let me know your thoughts.First investment property and new to real estate as well.

I am a local Realtor and I work with an amazing team of lenders, title companies, and contractors.

You won't be really able to find a tutor.I consider myself a Yardi expert focused on accounting.

Since you mention you have a partner, setting up an operating agreement is key to defining roles, responsibilities, and profit splits to avoid conflicts down the road.A few key tips to protect yourself:✅ Use separate bank accounts and keep finances clean✅ Get the right insurance (general liability + builder’s risk)✅ Have a solid contract with contractors to avoid surprises✅ Always verify permits and city regulations to stay compliantI still strongly advise you to work with local professionals, I’m happy to point you in the right direction!

STRs demand more time even though alot of things can be automated. you will managing cleaners, damage, guest experience, supplies, and more.4) Use AirDNA to see what an estimate of revenue can be, check Airbnb in your local neighborhood to see if anyone else if getting higher rates, and use BiggerPockets STR calculator to see what common expenses you may be forgetting.

The seller offered financing with 20% down, which I used to buy the place.After starting construction and realizing it was going to cost more than expected, I approached a small local bank that knew the property and would offer the rehab financing. 

Detroit requires strong local relationships to navigate things like neighborhood nuances and property management effectively.

Otherwise, if you know any local realtors they can also help see what market rents look like in the area.