I understand the general concept but I am not comfortable enough yet with the details to accurately explain the positives and potential negatives to my client.

As you post more, you'll get best responses from being in the best suited forum/sub forum.To answer your question, yes thats the basic concept of how BRRRR works and the deal would make sense, at least to me, assuming you calculated all the costs correctly (purchase, rehab, closing and carrying).

I love the concept of BRRRR and just became interested in the STR space so it was nice reading about how you managed to successfully execute on both strategies in one.

Fannie Mae also has a renovation loan as well (minimum 5% down if your primary home) but the concepts that were spoke on here were right on. 

You spend your profits ONLY...and use(invest) your seed money to infinity...and beyond.hi Joe - i do not own any properties at this time, and flipping isn't for me (maybe for now, maybe i'll explore this in the future).what you said you wouldn't do is exactly what i would do; i need to start building a portfolio of rentals so i'd like to invest in one or two condos in the area at this time. my seed money would be my start up money. i'm not sure how to make a profit without it (spend money to make money concept here?)

I feel I have a firm grasp on the basic concepts and terms used in the business.

I'm basically confused because "buying it right (price wise)" seems like a relative concept. 

The house has an open concept kitchen that looks out over the dining and living room combo.

My only concern is the month to month concept as that could prove to be a management time hog.

If you ever want to learn about note investing, you can always contact me and I can give you the main concept.