First BRRRR House!!!

[Peter Schafer]

I am looking into buying my first house with my father! I am thinking that we do a convention loan of 3% down, renovate it, rent it out to a tenant, and refinance. I hear that you can’t flip a house for more than 20% profit within 90 days or purchase. Plus, I want to hold onto that asset so it can be used as collateral for future SBA loans. Does this sound like a good plan? And would anybody have any advice? Thank you!