Kansas City BRRRR: Buy, Live-in Rehab, Rent, Refinance, Repeat?

[Sam Sharpe]

I'm looking to buy a value-add property in the Kansas City area and essentially doing the BRRRR method. My thought is to buy a livable home that needs some TLC and maybe doesn't cash flow immediately but if I were to live in it for two years and allow the rent to catch up a little bit with the expenses I could then convert it into a rental and move on to the next one. I currently own 0 properties. This approach would allow for us to save up for the next house while hopefully also building some equity.

I would be holding onto this property long-term and buying in a B neighborhood. I think I was just recently inspired by the interview with @Charles Roberts to not be so frantic about making a deal work and being able to sleep well at night!

I welcome any comments, thoughts, concerns, encouragements, and experiences!