After listing the house a few weeks ago, we have some great reviews and interested parties but no offers. The market has been pretty slow, however I have had numerous requests to rent. I even had an NFL player's agent call saying he can guarantee rent by the NFL while he is in treatment and wants to sign a lease. I am now considering to keep the home and rent it, and I believe this is referred to as the BRRR approach, however it was not planned for this and I am afraid I put too much into the property to rent it.

A couple of concerns I have.

1. I went above and beyond in this flip and spent a lot more than I planned, over 100K. I feel I made it 'too nice' to rent.

2. I need to get cash out from the money I've invested.

3. I only started my Business just a year ago and don't qualify for general refinance options from the big banks.

Facts:

1. I owe roughly $275,000

2. Listed for sale currently at $475,000

3. I need to pull out $100,000

4. I will sign a lease for $3,000 per month.

5. 4 BD / 2 BTH

6. HUGE LOT, Mange Trees, Avocado Trees, Lime Trees, 1 block to boat launch, a few blocks from beach and downtown Delray Beach, FL

I owe roughly $275,000 and the home is listed currently for $475,000. I again would like to pull out probably 100K as that is close to what we put in but we should still be far below market value on the home and I could have a lease lined up next week. I just can't get approved by Wells Fargo or any conventional re-finance companies. I was calculating a mortgage for $375,000 plus escrow at about $2300 per month so I should be cashflow positive.

I should also note, the property is owned currently by a company I own, and wanted to re-fiance and keep it under that company as a rental property.

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Recent Flip, want to BRRR it but not sure how

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