He would also not need any private money lenders to close these transactions -- his bank would be dying to give him a commercial line of credit. 

I'm 25k out of pocket for permits and clearing.I bet the pre-permitted 10 contiguous lots on the river would appraise for at least 150k.Am i being overly optimistic?

You are betting too much on the refinance portion if you try to BRRRR with hard money.

I am only curious and trying to educate myself on sub to as it seems rather attractive to me as a non-US buyer who has access to emergency lines of credit, albeit, maybe limited to 200k. 

I’d recommend looking for properties that already have stable tenants or need minor updates to increase rents down the line.

here is what Showmojo shows in their market research and I would say our local numbers show this out as well. hopefully the 2024 line takes a dive down but historically that is very unlikely.

If they're not crazy big, meaning they haven't busted the pipe completely and are huge, you can run a jet with a cutter through the line and clear them out.

If I can ever be of asisstance feel free to drop me a line. 

(I've heard stories of ceramic tile grout lines that were so soaked in urine that the smell wouldn't come out.)Although ceramic tile looks nice, vinyl should be your go-to in a rental bathroom.

In your texts it should say something along the lines of "Per clause X we are proposing to paint living room and master bedroom and no others".