So agree probably taking advantage of those that want to break into lending and your right 1 mil in CA is a drop in the bucket .. 1 mil in the mid west can be 8 to 10 loans not one like CA..

This will make or break you in the flipping world. 

This often breaks even on your current properties making them more or less a non event in your debt to income ratio. 

I believe at the end of the day, taking the gross revenue number and breaking down the costs associate are what matters. 

Don't break SEC rules.

Let's break it down.First, congratulations on saving up for a down payment and considering your next steps carefully.

If you don’t know how, ask a local friendly HML to share theirs.You will see that for an ARV greater than $250k, the break-even point is a purchase price plus rehab cost of approximately 86% of the ARV.

You can grow your wealth with appreciation by getting in early and you can cash flow early or at least break even year 1. 

Chris, thank you so much for breaking everything down with all that detail.

Hi there,Congratulations on starting your real estate investing journey and completing the rehab on your Detroit property It sounds like you've done a lot of work and are now at a critical decision point.First, let's break down your situation:- You've already done major rehab and have a tenant in place.- You analyzed the hold option and know it can cash flow.- The property is not getting much traction as a turnkey, and your hard money loan is maturing soon.Here are some key things to consider:**Refinancing with a DSCR Loan:**- DSCR (Debt Service Coverage Ratio) loans are great for investors because they focus on the property's cash flow rather than your personal income.- Make sure the property appraises for the calculated ARV (After Repair Value) to get the best loan terms.- Consider the loan terms, interest rates, and any prepayment penalties.