I was approved for 150k using under-the-table income.I had nothing reported at all, so My lender reached out to my employer and my employer just filled out a form stating what I make.

There is a requirement that all parties to the 1031 (both sides of the table) have to be notified to the 1031. 

Lot of return to leave on the table

Say the go for a refi, and get 70-75% of the ARV, now you're getting $140-150,000 back out, which you'll use to pay off the original Hard Money Loan.I'm making this scenario look pretty, tight, and nice for the sake of ease, but that's the gist.There are points, fees, interest payments, etc along the way.But regardless of where you live, whether you own a home, or even have a job, if you can come to the table with a good deal, that fits the lenders numbers/expectations, and you have the financial capacity to do the loan, the loan you will do...

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Unfortunately the Hud was not ready for review the night before the closing and I messed up by not checking it over very well at the closing table. 

You don't sit down at the big table unless you can ante up.

The alternative is finding a partner who can bring experience to the table, but it sounds like everyone is having trouble finding great deals these days. 

So that means, if I want to BRRR this property and get *all* of the cash/hard money/private money/HELOC money that I put in to buy and fix it, then I should not spend more than a total of $120,000.If I don't mind leaving some money on the table, then I could go over $120,000, but the true idea of BRRRR is to get all (or more) of your initial money back at refinance time.If you' don't quite follow this just yet, no worries, just keep reading on BP and listening to podcasts!

@James Call I personally have had several “mistake” homes that I actually came to the table at closing just to make it no longer my problem.