Possible Hybrid of BRRRR

[Peter Siapno]

I am planning to do a BRRRR in the midwest where i currently reside. I do not know if this is a popular thing to do but I was going to Rehab my first investment property but end up occupying it while renting out my current home. I would most likely try and do a 203k loan on a distressed property that i could possibly refinance after a year and maybe use the capital for my next one. Would this strategy work?