An LLC also makes refinancing in the BRRRR method smoother, as many lenders prefer loans through an entity for multi-property investors.Starting with the right structure positions you for long-term success.

Are you saying they don't count if you can't find the bodies?  

If they don't have a positive test, they won't have anything to back up the photos if it tests negative now.

Many investors who are in a similar position in my market (another HCOL/tenant friendly area) choose 1 of 3 options.1.

If the numbers still work, you’ll be in a solid position to proceed.

It's about finding a situation where you can force enough value to create a 20%+ equity position. 

This creates a negative initial position.

Consolidating CC typically is a net positive, when we come across that there are a few ways to leverage equity in your home to do that so you can save monthly and get the balance down faster. 

In other words, we are going with something that won't cash flow positive and we're okay with it.There are definitely cabins that will cash flow positive, especially if you get something smaller that is likely under $300K.

However, in such a case, a rescue fund would hold a superior position in the capital structure compared to the common equity investors, including yourselves and there acting as a parasite taking equity upside from all common equity investors.While this might provide a safer position for the pref equity slash rescue fund, it would also significantly impact the returns for common equity investors (previous guys).