The problem is that many lenders underwrite to stricter guidelines than fannie/freddie because they want multiple sources to sell the loan to.

Jason: While more and more assessors are getting sales information online, it's typically not as up to date as MLS or other real estate data sources.

You can use that comfort/knowledge to source great deals and if the Detroit market does turn around, you'll be poised for big payoffs.I personally would not move to Detroit and start investing there, but I would not want to move from a place of familiarity to a place that is more expensive to invest in.

It then becomes rooted in opinion in and of themselves.

Also with FHA you can go up to a 4 unit, that may or may not be something doable but it's something to think about as you look at getting started.Here is the ultimate guide to tenant screening, which is probably the single best source to get started with.

You (or somebody you hire) needs to determine the source of the water causing the mold.

On your application form, you should ask for other sources of income and finances - where they can list scholarships, research grants, student loans, etc.

With my renters, less than 5% come from CL...the rest are from other sources.

Yet another reason to have another source of income.

Come out to a grass roots meeting of like minded real estate investors.