I found an investor in Michigan who is currently trying to sell off half of his portfolio.

That being said, once you narrow down the type of investment that suits you, your finances, and your risk tolerance, the amount of information that applies to you will be greatly diminished, which makes this place a teensy bit less overwhelming.I see that you are looking at MI (great outfit) so you must be interested in exploring turnkey.

Hey Everyone!My name is Connor Bratten and I am a Scrum Master working in downtown Detroit. I grew up in the metro Detroit area, left the state for college, and moved back in with my parents after graduation to work a...

Very excited to get in to flipping houses! Don't know a lot about it at all but I'm very eager to learn!!

FHA also has lenient calculation for alimony and counts your monthly alimony as a reduction of income unlike conventional financing which counts it as a liability (important of this can be explained later) and many more.Conventional is cleaning in that it has better pricing and you can structure low down purchases with no monthly MI if you know how to structure your loan correctly.

YET, I am nervous that I am missing something big that will make this a flop.Deal seems to be profitable day 1 ( According to my conservative calculations at least 10% Cash ROI with an possible 20 % if all goes well). 100 % occupied with "long term tenants".The property is a multi family in Michigan.  

When I lived in CA, I invested back home in Michigan.

We have one rental property in Michigan with a great tenant paying on time.

If some hard money lender would be willing to do it (post close) in order to put that $82,500 back in your pocket, this would actually be far superior to FHA financing because you can pay it off when you wish, without having to refinance, whereas the only way to get rid of FHA MI is to refinance or sell the property. 

Wondering if anyone on BP has solid contractor(s) in the South Haven, MI area that you'd be comfortable recommending.