Returns on buy & hold is relatively low for Detroit area market, but higher than California.Suggest you share more about what you prefer to do as to, "REI possibilities" :)I’m really into flip investing being the ideal strategy. 

If they are willing to do that loan and have you refinance with a different loan, that would be ideal!

Ideally I'd like to obtain a cash-out refi @ 80% LTV for $1.6mm, with a building value of $2mm.Does anybody know a good place to finance a building with no leases?

DO NOT put anything in writing about how you think he probably did have a deposit and got ripped off....... you will try and make it "right"...compensating for his loss etc....bad idea...No receipt or proof of a deposit= NO E DEPOSIT...... let him go after the previous landlord.....not your problem.Start the eviction......

A few questions you should ask yourself is what would you want your ideal tenant look like, what would it take to manage them, and what type of property would they like to live in. 

Ideally, what you want to do is identify what their problem is and figure out how to solve it.

We need your help: City County Building, 200 E Washington St, Indy.

Options are fun, but not ideal for long term wealth. 

Ideally a 3 flat, with at least 3 units, but 4 would be better for cash flow, obviously.  

Based on area I should be able to find a young professional to lease, ideally young couple of professionals.