Living in BRRRR starting out

[Randy Wiley]

So my wife bought her house through her dad. She bought it cheap at 32,000. She paid the house off two years ago. We currently figured out that we want to start to invest in real estate. So today it just hit me to start the BRRRR process on the house we own. Is this the same as a hard money lender. With out the repayment? We are thinking about putting in 10-20 thousand dollars in the house. Does anyone see a problem with this strategy? Or are we on the wrong track. I see it as a BRRRR project without the hard money lender or private financing since it has already been done. Any help or advice anyone can give is very appreciated. Or if you see anything we don't.