BRRRRing 4-plex with Tenants on Leases

[Jaime Rossini]

I am looking at a good candidate for the BRRRR strategy that currently has 2 out of the 4 units on MTM and 2 units with time remaining on leases (4 months and 8 months). Wondering about the strategy for this: cash for keys; wait until leases are up; start rehabbing the 2 units on MTM and do the other two as the leases expire?

 The property cash flows as is, but I obviously would like to get the whole building Rehabbed, Rented, and Refinanced as soon as possible so I can perform that final R.

Also, If I wait to do the whole project until leases are up how do I calculate that into my numbers on the BRRRR calculator? And what's the best way to purchase the property in that case? Traditional financing, hard money?

Thanks for being such an awesome community and resource!