@Juan AvalosCongrats on diving in the Detroit market, many wouldnt take the risk you have.

You haven't indicated what your relationship to the PM is, so it is unclear if the judge will even accept your response.So, that being said, if the amount involved is substantially greater than $500 it might be advisable to discuss it with an attorney.

The mortgage note itself (and the associated lack of substantial equity) is a form of protection.

We're ready to dive in and have located a number of properties so this is the last thing holding us back.Any advice is appreciated!

I would be on the hook for a substantially smaller down payment if this was possible.

I would be on the hook for a substantially smaller down payment if this was possible.

I would be on the hook for a substantially smaller down payment if this was possible.

When the last member is standing, he/she would now hold all the properties but with substantial debt.

Track your leads and follow up regularly.Buyer's listMeet-ups, dumpster diving and cold calling investors who have purchased in the area.Are earnest money deposits necessary?

Do renovated houses make substantially more rent, comparing to not renovated at the same location?