The refinance step is where you pull out this equity, typically in the form of a cash-out refinance.Here’s how it works:You refinance the property at its new appraised value (after rehab and renting).You take out a new loan based on that increased value, ideally for the full amount or more than what you originally paid for the property.The goal is to pull out enough money to cover the cost of the original purchase and rehab (or even more, depending on the property’s appreciation).This allows you to recover your initial investment, which can then be used to buy your next property.5.

I am now ready to hang drywall, but I'm not sure how to fit the already wired, electrical boxes through the drywall cutouts.

We were the ideal customer of a real estate investor. 

We have helped several businesses open up using a Tiny Home to fit their business needs along with the City of St Louis with their homeless project.

You might find something that fits your needs.

And yes, the income from renting is still taxable, but ideally you are offsetting a chunk of that with depreciation which is a non-cash expense.You should read Amanda Han and Matt MacFarland's books as well which are available in the BP Bookstore. https://store.biggerpockets.com/products/tax-strategies-book...

Also think about your ideal guest.

From my experience working with over 400 investors, I’d recommend starting with house hacking—ideally a fourplex if you find a good deal, but a duplex works too.

Ideally, I would like to buy a 2-4 unit, but I'm not closed off to a single family and renting out the rooms.Any advice would be greatly appreciated!

That type of property is ideal.