For a BRRR cash-out refi, lenders typically go by the ARV (After Repair Value), not just purchase + repair costs.

The click on / locking type seems like what most investors use, but repairs seem difficult without having to re-do a large area. 

My best advice for a new wholesaler is to learn your repair costs.

Cutting corners to save time might seem like a good idea, but it can lead to expensive repairs later on.

How much will be due in repairs over the next five years? 

@Derek BellWhat would the after repair cap rate be with a 362,000 NOI?

Then all you realistically can do is manage bookings, delegate to handymen for repairs and hire cleaning service.

@Grace Hartman Most of the time sellers offer credits instead of fixing repairs.

Repairs after tenants move out also are significantly higher. 

@Rochelle GerberHere are some of the downsides of putting real estate into an IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.