In my state, a tenant can not stop paying rent because of a repair issue.

I've been talking to sellers non-stop making offers, putting up signs, doing direct mail.

Many lenders, including myself are not going to even try to distinguish between residential homestead and residential investment property - we are just going to stick with commercial property where the borrower can't later move in and have his attorney claim we made a non conforming consumer loan.Casualty of excessive Government interference in the market.

And of course my first goal with RE investing is to work for myself and stop making someone else wealthy, I would much rather expend that energy making MYSELF wealthy!

If the movement has stopped, then the fix is primarily for livability.

Structure it as if the LLC is borrowing all the money at the mortgage interest rate, run all income and expenses through the LLC in a separate checking account then do your disbursements from there depending on what you guys agree to pull out and when.I just did a JV and my private lender funded it.

Glad to be BACK - life happens and distractions don't stop BUT, I'm finally going to take back control of MY LIFE with God [of course for me at least] and the great people of this Biggerpockets family.Looking to get my FIRST wholesale deal within 3 months and network with others from my local area [NYC, Westchester & Long Island] My ultimate desire is to own a student housing property.Thanks for reading!

I don't have a strong sense but I have heard that yellow letters to NOD/late payers stopped getting good response rates.

Also below are links about some Detroit's current funding and investment and where its going.Detroit to get $300 million in federal help - Sep. 27, 2013 - CNN Moneyhttp://money.cnn.com/2013/09/27/news/economy/detroit-federal-help/Ford Foundation donates money to help Detroit manage its federal grantshttp://michiganradio.org/post/ford-foundation-donates-money-help-detroit-manage-its-federal-grantsBill Pulte: From Home Builder to Detroit's Unlikely Blight Busterhttp://www.forbes.com/sites/joannmuller/2013/10/09/bill-pulte-detroits-unlikely-blight-buster/Gilbert: Tear Down All Of Detroit’s Abandoned Homes At Oncehttp://detroit.cbslocal.com/2013/10/01/gilbert-tear-down-all-of-detroits-abandoned-homes-at-once/Plan to eliminate blight in Detroit may top $1 billion, task force sayshttp://www.freep.com/article/20131212/BUSINESS06/312120137/Detroit-blight-Quicken-GilbertDetroit bankruptcy judge orders company to stop collecting casino revenue (Access to about $180 million a year that was flowing to creditors from its casinos)http://whtc.com/news/articles/2013/aug/29/detroit-bankruptcy-judge-orders-company-to-stop-collecting-casino-revenue/http://www.freep.com/article/20130903/NEWS01/309030148/Kevyn-Orr-William-Buckfire-depositions-Detroit-bankruptcyFederal, Foundation, City and Corporate Investment Areas in Detroithttp://datadrivendetroit.org/web_ftp/Data_Mapping/InvestmentAreas.pdfThe Auto Industry Bailouthttp://useconomy.about.com/od/criticalssues/a/auto_bailout.htm

All of my previous purchases have been small cash deals, so I am looking to educate myself on the financial side of borrowing deals.