Love the owner fi opportunity, great work!

I'm personally more curious how you acquired that much in property value, reached FI, and yet here you are, a newbie on BP.

@Brian Mihaljevich Semper Fi Marine!

Real estate is pretty uniquely insulated from the fluctuations of the market at-large, so investing in other things comes with greater inherent risks, of course (plus you can re-fi out and re-invest depending on the circumstances).

For the BRRRR strategy to work effectively, it seems you need to get all your initial invested money (purchase and rehab cost) back in the re-fi.

True FI will probably take 15-20 years

E. ( Financial Independence Retire Early - My Journey to Financial Independencegood morning, I am a new investor trying a different way of achieving FI...

You've still spent the $105K that you used to buy the property, you just have $21K in cash back from the re-fi (actually less, since there will be closing costs on the re-fi and another miscellaneous expenses). 

Once you have updated U1, U2 and the heating systems maybe you should be able to re-fi money back out.For U3 - you say that they are paying above market rent on Section 8.  

Within the last year or so I found the FI community and then the Bigger Pockets community.