Full Occupancy: The property achieved full occupancy within three weeks of listing, with strong tenant demand.High Cash Flow: The property generates $5,570/month in gross revenue and approximately $4,690/month in net profit after operating costs.Effective Use of 1031 Exchange: $300k of the total $420k investment was offset by the 1031 exchange, minimizing out-of-pocket expenses.Long-Term Stability: Designed for durability and versatility, the property is expected to cash flow for decadesLessons learned?

It sounds like you're off to a strong start with your real estate journey.

We’ve provided a toothbrush. 3 years later and it’s still going strong! 

As consecutive Mac Conway Award Winners for Excellence recipients, Montgomery is well positioned through their "Imagine a Greater Montgomery" initiative to re-shape the city vision.

If you're considering BRRRR, the FHA 203(k) loan could work for bundled purchase and renovation, but it’s often simpler to use personal funds for lighter rehab projects.You could focus on properties with strong rental potential and manageable upgrades to increase value.

This is assuming that you're not even talking to the listing agent initially (skipping them) and going directly to the owner as the buyer.Thoughts?

You can refinance into more traditional loans later, but that initial speed matters.

Keep in mind that any initial rehab costs are on you until you get your first draw.If you can get work done quickly, some lenders I’ve worked with can inspect the property the next day and wire funds the same or the following day.

There is a very strong effort to ban them completely from R1 zoned areas which has made it very difficult to apply for a permit unless you buy a house which currently has a permit in place.

I frequent the MKE events.Leverage Your Skills: Highlight your project management expertise and strong contractor relationships when negotiating deals.