BRRRR is not a great strategy in the current market due to the mortgage rates so it's not as applicable as many think from reading older posts or books about how easy it is.

Memphis is a market where BRRRR is possible, but with rates going up again, it's not a great idea.

Interest rates are not coming down anytime soon.  

There was quite a bit of unused land and the zoning gave me some flexibility if I wanted to expand various aspects of the property.Also the self storage units were all below market rent and the seller was willing to finance at a decent rate with a 5 year balloon.

He did try to work with me by extending my time from 6 month to a year which led me to ask him question about his turnover rate and success rate of his mentee.

Rates are hovering in the mid 7s depending on your credit score.

Account Closed if you do a seller finance you could get a lower interest rate from HO then you can get at the bank.

Refinancing will change your mortgage rate, and if it’s worse than your current rate, it’s not worth it unless you’re getting a great deal.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Miami.

Purchase price: $415,000

Cash invested: $90,000

MY FIRST RENTAL PROPERTY !! BEAUTIFUL DUPLEX IN THE HEART OF MIAMI ...

That being said, with interest rates being higher now, I may not be able to find a turnkey property that makes financial sense.