Has anyone tried this approach before?

Sherman does seem interesting though because of the lower cost and growth potential.  

Personally, I think I would stack some cash for a year or so while I did this. 

Wish they would build houses with this style of architecture still.

In Texas we can go inactive, so no Broker, no selling, no MLS access,  but you still have to keep up your education CE hours and such. 

This is a business.

Unless it’s Roth and you have that much principal you can withdraw without tax and penalty then I would not do this. 

This might sound silly, but an old fashioned spreadsheet if you only have a deal or two.

Hey Brody,I just came across this post.

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.