But since there is a limit to how much money the bank has access to....their rate will be higher...and usually a shorter term.

But since there is a limit to how much money the bank has access to....their rate will be higher...and usually a shorter term....or maybe have a prepayment penalty.  

TREC is good, otherwise check my YouTube where i posted a shorter custom purchase contract!

For joists you are looking for anything with dry rot, bowing/splits in them, or sistered joists (shorter joist screwed/nailed into the other for support).

Or you could purchase it through a commercial loan and that doesn't mean you have to live in it or have an LLC (tho that is the safest option) Your loan term usually is shorter and the interest rate tends to be a bit more but worth it in the long run if you are trying to grow. 

The downsides are the variable/higher interest rates and the shorter loan duration.

Bonus, new house has shorter commute to work.

Yes, it will cost you more, sometimes, but maybe not if the project can be completed in a shorter period of time.I live in California and we don't do BRRR, but I do flip homes locally. 

Unless you plan to pay cash for your properties, get pre-qualified for an investor loan, so you will know how much credit you will have access to.The end goal - This is usually something like $10,000/Mo. income, in present value dollars.Time frame - The shorter your time frame to reach your goal, the more initial capital and credit you will need.Your plan does not need to be complex or in any specific structure.

By that I mean what are you offering in terms of time to close, earnest money, shorter inspection period, offering to pay seller's closing costs, waiving appraisal and financing contingencies, etc.Find out how how you can go on a particular property and still meet your goals if you do venture into offering over ask.