BRRRLO during COVID yes or no?

[Irina C.]

Hi everyone, 

I'm an out of state investor from CA and am in the process of closing on 2 properties in Jacksonville, Fl. I read the article from @Shiloh Lundahl about BRRRLO and wanted to see what the opinions are here from the community. I see it as an interesting option for my properties and have just talked to an attorney who could help me structure these deals. One issue he brought up is that you can't do any evictions for these types of contracts as the judges won't allow that. So you have to go through a complicated process to get the buyer out if they will default. 

Other things I'm not sure about are the tax consequences and hope that my CPA will shed some light on that. Additionally, I'm not sure about the process of actually finding someone. I feel like agents or property managers wouldn't want to help me with that as there is no "incentive" for them or it is harder to earn the commission. 

Are there any investors out there that are currently applying this as a strategy for themselves that would be open to chatting with me or sharing their insights?

Thanks so much!

Irina