No banks + carrying + equity cash out is a difficult mix.

Hi there,I'm planning to start WLO in VA by next month and would like to know what sort of costs are accociated with carrying out deals.

My gut tells it's contraction instead of expansion but is that balanced but not carrying any debt service?  

I guess my questions are: -Can an owner actually do an owner will carry if the house is not fully paid off?

I was told that it just get carried forward indefinably.

- amount and types of insurance to carry?

If you're spending a few minutes a week doing bookkeeping in Excel or QB and you actually enjoy doing that kind of work, then carry on.

We plan to utilize 401k "loans" as well to assist in carrying out the BRRR strategy as well.

Naturally, we charge a higher rent ($450 - $500/month) when renting by the room than if we let an entire house on a single lease ($360 - $425 per room per month): since we are carrying the utilities, have more administrative overhead and have to deal with housemate drama.

I see above that the taxes are high, you can not have them re-assessed until 2017, if they will reduce at all, so make sure to factor that into your carrying costs.