Learn how to do things right, then do them right.It definitely seems that being threatened with lawsuits comes with the territory!

Hi Michael,I see gentrification, in some areas, and some areas I would not go into day or night.I doubt D-Town will come back to level of Chicago or Austin in our lifetimes because I do not see the high paying large scale multi-multi employer base in the area.There seems to be money to be made there in the non-life threatening areas though, and with the local "Rah Rah" for the area that will probably continue as the dangerous element is driven out by higher costs (where they are going is important too, because dangerous areas seem to be on the move now).In addition to real estate, I see money to made there in (good affordable) startup restaurants, and franchises in super safe walkable areas such as McDonald's or Starbucks (because these franchises seem to work everywhere).Detroit still suffers from city government issues and it's reputation as the Murder Capital.Though I'm not a commercial building investor, I think 4 story or lower (the lower the better) commercial buildings (store/restaurant) that can be bought cheap and refurbished to current standards (providing you can get commercial contractors to go there and work), then held and rented seems like a decent prospect.

The tax questions are unfamiliar territory for me for now but it’s what I went to school for I’m sure I can pick it up.

This is typically frowned upon for SBA but is technically permissible as long as the unsecured lines payments can be made through outside income, I.e the spouses salary, investment real estate cash flow, etc.The big danger with this types of loans is many are on daily payment plans and many front load the interest.

Do not operate in unfriendly territory.

They know just enough to be dangerous to themselves. 

If you've hired a PMC and NOT terminated them yet, then they can sign a lease on your behalf - until you terminate them in accordance with the management CONTRACT (everyone calls it an agreement, but it is a contract).Also, freaking out over the number of vehicles is borderline control-freak territory.

If your property is close to Lincoln Avenue School that will help as the narcotics territory is worth less so you won’t see any turf issues.

@Scott ReignsIf we spend all our savings on that down payment, would it be too dangerous to rely on no vacancy since well only have my income coming in?

I am very grateful to be part of this community.To clarify, I am in no danger of chasing their asking price.