Purchase price: $150,000 Cash invested: $100,000 I have rented this for 4 years now I am renovating it for an Airbnb now once on airbnb it will do 10-20K a month What made you interested in investing in this type of deal?

The BRRRR strategy clicks with me, but renovating in the first deal seems daunting.

I renovated the home and made $30,000 to a first time home buyer. 

Were they redone during the renovation?

They’ll often have leads on deals before they go public. https://www.biggerpockets.com/business/finder/agentsWith your experience in renovations, you may be able to find value even in these challenging properties.

He is currently renovating a defunct motel near the Clinic to add even more. 

This is my first purchase (don't want to do anything stupid) and the rents could swing 600/month depending on what I'm allowed to do in the basement - I'd be in the red from a cashflow perspective if I can't duplex them.Am I rolling the dice here / do you not typically find out for sure until you close and begin renovations?  

Jerrell,That would be a pretty simple process you could use a renovation loan or do a cash out refinance. 

This rental property was totally renovated from a fire about two years ago and is basically a new home. 

They find the property, manage the renovation and furnishing then manage it.