A buy and hold business plan isn't even remotely relevant to a flipping business plan - unless your strategy is to be involved in both.Define your strategy, then begin the construction of your business plan.

I'm thinking about getting involved in real estate investing.

I understand how the HML lender would be on title, that there are points and higher interest involved, etc, etc.  

If he lives in Detroit, and is getting involved with the community, then he has a better chance than most people Looking at Detroit from afar.

If you don't like being a Landlord find a different job that doesn't involve people.A Lease is good protection for both parties.

Lastly, try to get involved in the Bigger Pockets community.

You are also able to print out the report to show with others involved. 

Usually, it's best not to get involved, you can't save everyone.

With multiple people involved you definitely want to set up some separate entity but not necessarily an LLC.

I buy or assign here and there, but no banks are involved anymore.