But in reality that's not what the property can get in the future...

Part of it is a learning process and I have learned a lot for future deals.

PLEASE do your due diligence when inspecting foundations on your future homes, especially in wet climates.

Let’s connect and see if we can potentially do a JV together in the future.

The person who found the deal, future partner, found it off market, turnkey, under market rents.

I am about to embark on my very first BRRRR project and will definitely need to build a team to get this and future BRRRR projects done.

I’d be very grateful for any advice or recommendations on how best to approach these modifications.Also if I were to refinance in the future to pull out cash from the property, is this something that banks could refuse to lend on if I have code violations of lets say a wall that was moved or removed?

Find a good property being totally mismanaged - offer to purchase 60% and take operational control selling your property management expertise and future profitability, providing property owner/seller with enough cash to pay off his pressing debts keeping current loan in place. 

Every property of interest must be evaluated based on current and future performance.Current ConsiderationsTime to rentRenovation Cost & RiskInitial ROI and cash flowPurchase PriceMaintenance costAcceptable area rental restrictionsIn an area that is doing well and likely to do better in the future.In the migration path of urban sprawl.Future ConsiderationsThe location has a track record of appreciation and rent increases.It physically matches the expected demographic changes for the foreseeable future.Buy what your “customer” wants to rent, not what you think is a good property.

Don't look at what is going on today, but what the property can be in the future.7.