BRRRR Success Stories with HML?

[Pat McCandless]

So - I'm still looking to do my first deal and wondering if any of you successful investors would care to share the numbers on a BRRRR deal that you used hard money lenders to purchase the property and maybe even cover the rehab costs. I'm curious to hear if it's possible or if the HML's are too risky for these type of deals since you want as much equity as possible when you refinance. On top of it, has anyone done this with an out of state property? I'm located in Connecticut where taxes are brutal so I'm intrigued to find something where the taxes won't eat away at the cash flow. I'm seeing PA has some decent areas to start. Or since I haven't even done a deal yet, is it a waste of time looking out of state? Appreciate any feedback or insight.

Thanks!