Not figuring this out can wipe you out.4) Ring Cities are best in Suburban Detroit - PM us for definition or search for our company blog posts here that cover this.5) If you go into City of Detroit, you really have to check each block-by-block.

The tenant fills out their information online including their SSN for the company to run the check however as a landlord you do not get the SSN from the screening company just the background check. 

Company failed to file paperwork in time.

While I wouldn't call it "big boys" - there is a very small world of professional companies dedicated to this super small specific asset class. 

We are an integrated company providing investors with opportunities to Purchase, Hold, Renovate, Build, Develop, and Flip properties across all market cycles.

You can call your the local utility company to get an idea on utility costs.

NEVER ever send a lender money in advance other than maybe a small deposit like 100 or 150 bucks to run credit etc.. and then most will have you pay for the appraisal directly.Really was a waste of time and money.I am thinking of always getting a title company/attorney or reputable entity to act as the median between me and the contractor/lender in every future opportunity.Honestly, I was overzealous looking back.

I've had my own company for the last two years which makes it a little harder to get financing. 

But all good now - we have a property manager and its become a passive investment now that we hired this property management company.

Ideally you (the lender) would be a passive partner in the company, take a percentage of the net profit from each deal, and not be involved in the day to day operations.