My advice is to get proposals from several GC’s, compare their pricing, compare the detail of the proposals (make sure everyone is bidding the same scope of work) and ask around about how they have performed on other projects in the area.

@Stephanie Brinkley-Thank you for such details about the area. 

Key points for buyers to consider: the $65K rehab budget and timeline (45-60 days) are realistic, but transparency on rehab details and potential delays will be important.

Given the details you provided, I personally might not want to settle this in mediation with this tenant however as I'd probably just want a judge to cut through the BS and tell them to pay up and get out at this point.

Here's a detailed guide on how to screen applicants: Application Screening Guide

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Let me know what thoughts/reactions you have here, and I will incorporate into my more detailed blog publication coming in a few weeks.

You are very detailed about your complaints, but never mention basic important details such as what kind of rental agreement was given to these tenants?

When you are getting into raising big dollars from sophisticated investors they are going to want to see a track record and a well thought out and detailed business plan.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.