What options do I have under this situation besides ait and wait?.

Can't speak to the organization in Michigan but generally the benefits of a well run STRA far outweigh the costs.I am a property manager in Hawaii so we are constantly being hit with new anti-STR legislation and have a large, well-funded hotel lobby to deal with constantly.

I intend to invest.

I see too many people above suggesting you need to put 20 to 30% down to cash flow. 

Hi all,I am a newbie to REI.

Quote from @Evan Polaski: @Enrique Roth, every investor should be preparing a full appraisal package.In mine, I include 1. before and after photos, 2. 5-6 comps that I want the appraiser to use, WITH explanations of what the comps have or don't have compared to mine.  

Hey your agent involved to get answers to the questions and speak directly with seller / sellers agent

Hard Money loan How did you add value to the deal?

Would love to!

I can also point you to a ton of resources if you'd like to do your own research.