Down Payment: 20% of the purchase price, equal to $43,0003.

Welcome to BP Joshua and best of luck investing!

Some lenders will not accept appraisals that were ordered by another lender or are beyond xx months old.

Those houses could rent anywhere from $1,600 per month to $2,000 per month. 

@Dillon ClarkWelcome to BP!

Why do you want to try it? 

There are two types of return from a rental propertyCash Flow & Appreciation.I normally also aim for a minimum of 8% return between Cash-Flow and Appreciation.Appreication, nationally, is around 2% to 3% annually.Therefore, your goal is to get the cash-flow to be about 5% to 6%.The issue is interest rates being very high, you would therefore, need to buy at a pricepoint where the numbers still make sense.You can always put down more of a downpayment to cash flow, but that will impact your cash on cash return calculations.Best of luck!

Tenant just moved in and is asking to delay rent payment until next month, looking for the 10 day move out form

While I would have built $150,000 in equity, the cash flow simply doesn’t work.Now, let’s compare this to the market conditions when BRRRR was highly promoted (pre-2020).Interest Rate: 4.75%Monthly Payment: $3,057/monthRent: $3,600/monthIn this scenario, I’d be making over $500/month with $23,000 left in the deal, resulting in a gross 26% cash-on-cash return—an excellent deal.As you can see, rates and prices play a critical role in the viability of the BRRRR strategy.

With that said, I am in the position where I will not need a monthly income from my rentals.