Do it wrong,  no saying how many issues.I've done a ton of OOS BRRs, strictly invest out of city and mainly OOS.

We have spoken with them and pretty strict covenants as well as Axos bank

I wasn't strictly referring to a BRRRR strategy, because I guess in class C neighborhoods their may not be that much room for appreciation anyway.

Honestly seems like a little overkill on this decision - unless its strictly a rate-term refinance because rates have dropped, it usually just should come down to a side by side comparison of status quo vs. refinanced (+ how any cash-out capital is deployed)

.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.

One is strictly investment, where the neighborhood/location is not important just the potential for upside and low cost living.

Strictly analytical speaking you cannot make a financial case for unleveraged investing in real estate.

That is strictly from a scalability stain point.

In Pittsburgh, wholesaling is legal, but PA has strict rules about how it's conducted.

I'm not currently encouraging investors to do unincorporated JeffCo for that reason - they've become more strict/unfriendly over time.