So I thought wouldn't it be great if I had the funds for the deposit/purchase price than ad a experienced partner to help me purchase the property.

I see advantages to continue renting while we invest in other properties.Only have to take out one loan for the investmentRenting keeps us from any personal maintenance costs we have to incurInvestments can eventually pay for our homeI don't know much about lending rules, but I'm curious to hear from experienced folk on advice here.

@Steve RozenbergYou know the answer to that one :P What problems are you experiencing?

Hi,reaching out to the more experienced hard money lenders in this forum.Recently I completed my first hard money lending deal(I am the lender) to a company which is flipping houses.  

As well as speak to experienced wholesalers.BTW, I am in IT Consultant in real life. 

But I'm sure a lot of the more experienced rehabbers on the site can give a better opinion on the best retail values which may be in the 100-200k range. 

If that's listing probates, then you'd better know the process, court system and be an experienced problem solver.

Crap for 1 to 15k per house if you have to just abandon one because it did not work no biggee.. you have lost next to nothing monetarily. keep the ones that work throw away the garbage let them go for tax's.If your sitting in CA or AU or GB  or other foreign countries and you think these cheap homes are going to make you rich.. then your just perpetuating the greater fool theory in my mind... and the end of the day simple logic has to dictate.. if houses on the open market were any investor  experienced or not can purchase them for 1 to 5k  well then there is a reason.. and there is a reason that in LA or SF or PDX or SEA  or New York or Boston or other prime markets that values are where they are at.. supply demand and ability to pay for the asset.Detroit bottom line just needs to retrench.. if its only 700k pop now and declining and there were housing stock for double that.. it does not take a genius to understand there is a gross over supply and the better owners or tenants are not going to live in the roughest and most dangerous areas of the city they will flee to safer more stable environs because there are massive amounts of homes that can be bought in nice areas for 100k and under.

Can you add an additional bedroom in the basement or attic(assuming it has either).If your looking for further confidence I would try to partner and split profits with an experienced investor in your market who can help you vet the deals until you become more confident. 

I took the advice of an experienced investor 19 years ago and got my RE license.