How does Repeat in BRRRR work?

[David Sanford]

Hey guys. I'm currently in the process of closing on a house I plan to flip. Purchase price of $80,000. Needs about $20,000 in renovation and then will sell for approx $135,000. How can I roll over the profit from this deal into the next deal without being taxed so heavily for the BRRRR strategy to work? This is my first flip. So I don't want to leave with a bad taste in my mouth. I considered doing a cash out refinance and keeping the house but I would only get about $20k in doing this (since I can only get 75% of the value) if my math is correct. $20k won't be enough to repeat the process.