I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.

Definitely curious about your approach to this   Of course!

I will be blunt and tell you that it sounds like your approach is a bit naive.

If I was trying to break into the industry, I would approach a few small- to mid-level sponsors and ask if you could provide help to their organization in exchange for a mentorship.

There's no one size fits all approach to real estate investing and depending on your resources, skill set, and capabilities you may excel in one particular market or utilizing a specific strategy whereas another investor will excel using a different approach.  

You’re the insider who can ring someone up, say you’ve got a contract on a property ripe for a cosmetic upgrade, and watch them perk up.I’d say give it a whirl, see how it feels, and don’t hesitate to tweak your approach as you learn.

.- They are extremely manipulative in their sales approach.

Being nice to lazy investors, just rewards bad behavior and doesn't push them to be more resourceful - and hence more successful.It is a free country though, so best of luck with your approach:)

If you feel a consultant would help you reach your goals faster, then get one:)Not sure how well the, "one-size fits all" approach works.Guiding you to find your own path would seem a better idea.DM us to chat more!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.