I'm a small time investor (2 properties) and still consider myself a relatively new investor, but I would never have done my first deal without some other professional support...I found a good realtor and PM company.

(a) The landlord intends to demolish the dwelling unit or convert the dwelling unit to a use other than residential use within a reasonable time; (b) The landlord intends to undertake repairs or renovations to the dwelling unit within a reasonable time and: (A) The premises is unsafe or unfit for occupancy; or (B) The dwelling unit will be unsafe or unfit for occupancy during the repairs or renovations; (c) The landlord intends for the landlord or a member of the landlord’s immediate family to occupy the dwelling unit as a primary residence and the landlord does not own a comparable unit in the same building that is available for occupancy at the same time that the tenant receives notice to terminate the tenancy; or (d) The landlord has: Enrolled Senate Bill 608 (SB 608-INTRO) Page 2(A) Accepted an offer to purchase the dwelling unit separately from any other dwelling unit from a person who intends in good faith to occupy the dwelling unit as the person’s primary residence; and (B) Provided the notice and written evidence of the offer to purchase the dwelling unit, to the tenant not more than 120 days after accepting the offer to purchase. (6)(a) A landlord that terminates a tenancy under subsection (5) of this section shall: (A) Specify in the termination notice the reason for the termination and supporting facts; (B) State that the rental agreement will terminate upon a designated date not less than 90 days after delivery of the notice; and (C) At the time the landlord delivers the tenant the notice to terminate the tenancy, pay the tenant an amount equal to one month’s periodic rent.

Find a great real estate agent to help guide you to the right purchase and build a network to support you for when you are feeling scared or unsure.

That is, is the property worth enough to support the bank’s minimum loan?

Spoken in terms of average and median values, in most circumstances "the market", any market will only support so much sales price.

So, if withholding distributions in order to protect your investor's capital is necessary, I would fully support that.Having the support of you partners is of utmost importance, which highlights the importance of effective communication, regardless of the chosen strategy regarding distribution adjustments.With those points established, I have continued to receive distributions and that has strengthened my confidence in my partners. 1) Buy for cash flow, 2) secure long-term, low leveraged debt, and 3) have adequate cash reserves are principles that guide the business.

Hey @Shawn McCormick I'm just looking for some support when it comes to experience and capital.

There are other private lenders like us, who are local in Michigan; who can support investors like you.There are local REIA meet up groups for networking, that can also a source for private lenders.

Personally, if I was in your position I would just create a 4 bedroom apartment if the rents support the work.

I’ve met enough people that make more or are supplemented enough to support three families but their credit score still comes out below par so before you think of a list of questions.