If this is your first you might want to partner with someone who has experience with BRRRRs and has the capital to front for the project.   

The lenders on large MF will look at experience, net worth and liquid capital of the General partnership.

Save up enough capital to house hack your first deal.

Also, most deals tend to require a lot of capital ($50K+).Most states exempt business purpose loans from licensing requirements but there are still certain rules/regulations you have to be mindful of.

Partner Driven funded this transaction by leveraging a combination of internal capital and strategic partnership resources.

I would add a couple more pieces, making sure you have the capital to do the flips, knowing the scope of work that will need to be done on each flip, and finding people who can get you a good deal!

Any transfers should be made through the owner of the LLC and not another LLCSo you make a capital contribution or capital withdrawal.

In general, you're going to make more money on solid middle class flips but you're going to need access to more capital to get it done.

So, Brandon, if your capital reserves are 150kish, I would really think about doing some BRRRRs or Flips even to generate cash cause that 150k will be sucked up in 2 - 3 deals, instead you can use 150k to scale and never be out of the game.I wouldn't rush to infuse 100% of the capital in two holds. 

My partner however is NOT a real estate professional and won’t be able to capitalize on the deductions as much as I will be able to due to their share of the “loss” being a passive loss.