@Phillip Austin someone who obviously should not rent but buy themselves a brand new house. what was their previous place?  

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

Its a fine line here on BP a ton of the audience/members are in the business and the BP members are their target potential clients.

They are paying for some repairs now after I've had several issues and a brand new tenant moved out, but I'm still paying a mortgage without any rent coming in during those months. 

The 70% rule is reserved for talking points by the guy on stage talking to an audience who they’re trying to sell a coaching program to   It’s a get excited number not a do a deal number   The equation is: maximum of 65% of AS IS value.  

I'm not how you are defining a BRRR that works, but if I have a unit with brand new roof, mechanicals, kitchens, bathrooms, etc... and leave 10,15 or 20% in the deal I still feel like I'm winning.  

@Jeremy H Barton I would suggest taking a look at your cash flow before signing up for a HELOC on a brand new building.

Or can I get the Costco brand items?? 

And for two valid reasons: they don't know if Don is a trustworthy borrower (which he is not), and they could get a lot better profit (for the bank) from a brand new loan.

I know I fund the deals and pay for the rehab . my clients put on brand new roofs  new panels all new wiring new plumbing windows siding cabinets etc etc..