Here's the effect on your new mortgage payment.Refi Loan = $262,500 (4.5% APR / 30 years)P & I = $1,330Cash Flow = $1,250 - $1,330 = - $80 per month Again don't forget the HELOC payments as part of your Holding costs.When I do my BRRRR calculations I am more conservative and use 70% of ARV (versus 75% that Andrew uses) for my all in costs (Purchase price, Rehab costs, Holding and Closing costs).  

I am just finding properties with much better returns right now on that side of town versus the NW and W side of town.If you have other questions about SA feel free to reach out.

I think you want to be really clear of what is owed versus what the home is worth before you sign up for that.If its still something you want to pursue - there are almost no assumable mortgages anymore, however if he quit claims the property to you and you keep the payments current, it is not likely the lender will do anything to object to this.

What tools do you believe are "must haves" versus "nice to have "?

I'm curious if most investors here still have a day job and just invest with extra money versus being involved with real estate full time?  

JC was still very much transitioning when I bought, but I always preferred the creative vibe there versus the yuppy frat party in HB.

@Russell Brazil is a great resource in the DC area and knows which neighborhoods will get you your moneys worth versus the ones that are charging high prices just because its Northwest DC. 

I'd rather not "get it" until I knew it was accepted and had to, but I feel like offering a statement versus it being "cash" would make my offer look weaker.

In the end Realtors just want to get paid and this is easier/quicker by working with other Realtors versus random investors.

When you are seeking this information, be sure you compare rehabbed (flipped) houses versus traditional sales.