This is correct, but that .5% is IN ADDITION to all the other closing costs associated with a refinance (Title/Escrow Fees, prepaids, and depending on the bank, Underwriting / processor costs) - so in reality it can be a little more expensive to refinance with IRRRLs.

If you throw in some additional capital along the way you can accelerate the process, a lot.

I was shown about a handful of their holdings in the Houston, Memphis, and Little Rock markets, but the cash flow and CoC returns were less than $100 per month and 2-4% after factoring in additional expenses like 7% vacancy and 10% maintenance per month to go along with 20% down and conventional mortgage.

(in terms of pros and cons).You can also use rentals to provide additional borrowing power if your rental currently cashflows from a tax perspective.Hopefully that helps your scenario advance forward in terms of what to ask and think about.

In addition to my real estate expertise, I’ve spent years building and collaborating with property management companies.

The ones I manage total to 20 bedrooms.These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes.

The highest cash flowing place I found so far is a duplex that's a 3/1 and a 2/1, and there's an additional standalone home on the property that's a 3/1.

Additionally, I don't have the time to sift through all the legal jargon and pinpoint where they’ve breached the contract, so it's worth having a lawyer review it in my situation.

@Salome Ditmars In addition to what has already been shared on this thread, trusting the sponsor will be paramount to you sleeping at night, and I can't stress that enough.

Additionally to that I am looking to expand into 3 other markets but I have boots on the ground in those areas.