Has anyone done Apartment BRRRR?

[Jesse Unrath]

Hey,

I am still a rookie at the whole real estate investing deal and trying to real in my first deal.

Does anyone have any experience with an apartment BRRRR or an apartment flip?

The reason i ask is, for my first deal i thought i would be conservative. There is a 2 bedroom/1bathroom apartment for sale for $65,000.

Its in decent shape BUT for the crazy time we live in right now, i figured if i could get it for $40,000, put $5000 of paint and upgrades into it, then get it appraised and possibly refinance and pull my cash out. Im just unsure if apartment BRRR would work the same as a SFR. Any advice is appreciated. Thanks