, Are they bonded & carry E&O insurance in the name of the actual exchange company?

It strengthens your network, experience, and confidence anyways.

The only way to get a fixer with low money down would be the FHA 203k loan, which will again be for owner occupied residence only, but then you will need to do the rehab by the book, with full permits, using only licensed bonded contractors for the work, not so much of your own sweat equity.

I wouldn't want to turn around and buy something at the same lofty heights when I sold seeing that that's the basis for selling to some extent.I'd probably rent something and feel out the market, maybe invest the cash in stocks/bonds/etc. 

Does any know of an excellent bonded and licensed GC in the Chicagoland area that they could refer??

Hi Tushar,Welcome to BP.There are generally no completely "safe bets" in real estate, and definitely not in Detroit.I suggest you do a search for Detroit in the forums and learn as much as you can.Detroit is a very difficult and dangerous market to do long distance.If you are looking for "safe bets" buy government bonds.

Still I'm maintaining a presence on Morningstar & the Von Mises Institute to discuss economics, bond & stock markets as well as political theory.

I’m sure you’ve already figured it out but if it’s important to you that the work being done is by someone licensed, bonded and insured ask for that proof first thing.

Many of the soft commits won't come through when do have the target property for a number of reasons.My first syndication, 48 unit, was funded by people I met through meet-ups and took months to form the bond and trust for them to invest with me but that was the springboard for closing 860 units in 18 months and a total of over 1100 syndicated.

No main grounding through a rod is present with the age of this system (meter jumper cut is a potential hazard), neutrals/grounds bonded in 1 subpanel is no longer approved.