@Faisal ZamanI would suggest accepting rent payments only by money order or cashier check to avoid issues with returned payments.

This could indicate a premium market with potentially higher profit margins on flips.Housing Structures: Zip code 13224 shows a high number of multi-family structures, particularly those with more than 50 units, suggesting a potentially saturated rental market or a demand for apartment living.Market Outlook Combined with Google Search Data:13224: Witnessing a notable 53.7% surge in median sale prices for 4-bedroom homes and a 19.7% uptick for 5+ bedrooms reflects a buoyant market for larger residences.

If not, that's on you.I would've paid him a more fair amount and got a soft & firm estimation on completion, and priced him to do it on the quicker of the two with no workmanship issues.

My goal is to get into a house hack on a multi family duplex/Triplex in the near future.

Currently under contract for a large off-market residential property.Quick details: 4,200+ sqft 12bed / 5bath (2 kitchens) (No a flood zone)(Light - Medium rehab / rent-by-the-room play)My partner has been a PM in this community for 20+ years and is highly confident in this deal (as am I).The current issue is, we aren't confident the property can close with a bank due to a few seller complications.( ^Very long story, but if you want to hear it I will tell you haha)We're looking to over-raise about $335k ($255k purchase and $80k for the rehab).But we (and our contractors) know the rehab portion will come in a bit lower.Can anyone point me in the right direction?

The median income and other MSA data is garbage, at least when it come to Detroit, so agree your $30k is also then garbage, per your logic:)City of Detroit is suing the Census Bureau for their antiquated methods leading to misrepresentations of Detroit.

I am looking for the exact same (multi-family using seller financing).

I think the biggest issue is they all start with a "Cash invested" amount and I have no idea what mine is at this point so I am lost out the gate.  

This is a complex issue and I know the community would benefit from learning about our decisions.

If tax returns and DTI is an issue look at private institutional lending.