Unfortunately, many out of state investors who come to Detroit fall victim to unscrupulous contractors and PMs because of miscalculating the difficulty of creating healthy rentals in Class C-, D neighborhoods. 

I'll look more into hybrid/segmented special assessments.You'd think lenders would be mostly okay with these, since while it's true that only a portion of the units are responsible for repayment, the loan amount itself (their risk/skin in the game) is lowered by the same factor (slashed in half in my case).I know this is silly and I probably won't go down that route, but part of me is thinking, "I'll be the lender myself - I'll give them a less predatory (but still win-win) interest rate - if anyone has to collect interest here, why not it be me?"

A healthy 401k and IRA savings for their age (early 50s), a paid for little old commercial building valued at 200k that is currently being renovated for wife to start a small business out of.

Huge red flag I own seven properties. 40 Grand would be a healthy down payment for myself.

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry. 

In Jacksonville, there are lenders offering 80% cash-out terms that let you leverage, while keeping debt servicing manageable.Great for: Gradual portfolio growth with less upfront effort—if your existing home’s equity is healthy and rates are reasonable.Option B: BRRR Strategy (Buy–Rehab–Rent–Refinance–Repeat)Why it's compelling here: Jacksonville is among the more favorable markets for BRRR due to affordable entry prices and steady rental demand.

I would want my son to have some skin in the game regarding down payment and on the other hand if I was him I wouldn't want to do a live-in reno and have to pay rent. 

This is the prospect's skin in the game. 

That idea that you can do real estate with no experience and no skin in the game was the beginning of the cycle we are watching now. 

Then, the conversation goes sideways when you tell them you are an investor and what you are trying to do.The reality is most Realtors are not investors themselves and do not speak investor lingo or understand what you are trying to do.The key is to find an investor friendly Realtor with a teacher's heart in the area you wish to invest.A healthy percentage of my clients are investors from around the country.Those Realtors are out there and happy to help.To Your Success!