Some buyers enter these agreements without fully understanding the financial commitment, often influenced by overly optimistic advice.

The plan was to refinance when rates dropped to improve cashflow, we just had to get out of our hard money loans at the time.

One thing I will say, and do with it what you will, if you are digging out of a bad financial position I'd suggest RE is not for you now. 

I would encourage you to do a deeper dig on the financials and take your own skill inventory in making this important wealth impacting decision.  

In Cleveland you could also purchase a property in an area that is improving or on the border of one.

The financial of property is good:      DSCR = 1.3; LTV = 45%;Both my liquidity and net worth passes Chase's test.

That 4% cap rate on in place financials is a lie.  

The BRRRR strategy is a systematic approach to real estate investing that revolves around five key steps:Buy: Purchase a property, often below market value, that has potential for appreciation and improvement.Rehab: Renovate the property to increase its value, make it livable, and improve its rental potential.Rent: Find reliable tenants who will pay rent, allowing you to generate consistent cash flow.Refinance: After the property is rehabbed and rented, refinance it to pull out the equity you’ve built through the renovation.Repeat: Use the cash obtained from refinancing to fund your next investment property, starting the cycle again.Step-by-Step Breakdown of the BRRRR MethodLet’s take a closer look at each stage of the BRRRR strategy to see how it works in practice.1.

Adding another to this thread - 129 Webster St, Haverhill, MA.This 4-unit property in Haverhill presents a strong investment opportunity with recent upgrades, solid rental demand, and potential for easy value-add improvements.

For many young Americans, buying a home has always been a major milestone—one that represents financial stability and long-term investment.