BRRRR my first house that I own?

[Derek Wilcox]

Hey everyone, I am going to be buying a single family home for my wife and I in the next few months. I have been reading and listening to a lot of stuff on BRRRR investing and really want to get into it. My question is, can I do it on a home that I am living in myself? I would like to buy a home, fix it up for the next year or two while living in it. (also so that we get occupancy there for the loan) then try to refinance and start renting it out after hopefully buying a 2nd home for us to live in. Are there any flaws to this strategy? I want to make sure this is a good decision before actually getting to that stage. Thanks!