They want people that eat,breathe, and sleep that asset class.The broker/agent inexperience combined with overseas buyers that are not familiar with the areas creates a high barrier to entry for getting your offer accepted.Sellers would want to see proof of funds that the money is here and not overseas.

You're going to have exterminators, plumbers, HVAC, electricians visit your home from time to time and they expect to eat!  

have laundry room on each floor and eating area and set of rules in kitchen area. met a lot of travelers who stay at hostels and they have setup like that. there was one where they had a weekly dinner and had to contribute towards food prep and cooking to keep cost down and for laundry they had washer/dryers. 

Both my wife and I read (and podcast) a lot and are currently eating up everything we can get our hands on.

As a contractor I always prefer a full gut but it does eat away the rehab cost and takes longer but no stress about plumbing, leaks, electric, lead paint and etc in the future.The patch up would cost less, fast timing, but then you are gambling with what's behind the wall and hoping nothing happens in the future.I assume most house that are purchase for BRRRR purpose are in distress/bad condition and old on some occasion.What rehab number would you go for?

I have a hard time selling it , and it sits on the Market for months on end, and I end up eating the Bill.I understand that I can Rent it out , but I'm using Private $ , so the Backer will of course won't their$ back + the $ we agree upon once it sells.But if I can't sell it , then i'm stuckAny and all insight , tips and advice is much appreciated

Anyway, with a HML first and a 20% 2nd Gap funding the holding costs may eat up your profit if you don't turn that property fast.

I don't even know how I'm going to fund the deal, but on fat deals, there's always money.

If you are new to real estate, take the time to figure out exactly what you want and eat the elephant one bite at a time.Good luck.

This eats right in to your profit (not as much as not having the time to properly manage the place will though!).