The goal with the BRRR strategy isn't to be making an immediate profit per se, the goal is to recycle the same money over and over again.  

My past 10 years I was given the opportunity to start a yard waste recycling business from the ground up I took that business in making a 50-60% growth every year doing whatever it took to get the job done.  

One of the reasons I enjoy fixing up houses is because I'm "recycling-" taking something old and making it nice and new.

So, in 6 months after you refinance, you'd have $0 left in the property, and you can recycle your capital and do it again. 

Other than the U.S. try to guess the other two countries...1) This country sells milk in the grocery store in strange plastic pouches2) This oil rich country bans the sale of bacon in grocery stores.

I'm all for standards and safety, but often times the city is in dire need of money so they find every way they can to milk you.A side note, my appraisal was a "drive by" and not a full-on $500 home appraisal so they didn't actually go inside and measure the sqft, but i'm still quite confident that they will not use the added bedrooms because they were not permitted.  

BRRRR (Buy -Rehab -Rent & Refinance & Recycle)Take each piece and break it down.It will depend on how fast you want to scale up.

I also mention to tenants (in passing conversation) how much it hurts them to use certain firms that are known for setting up somewhat frivolous lawsuits for CRLTO stuff - when I see those firms names as representing an applicant in a previous suit, no way am I renting to them.Unfortunately, with the legal atmosphere here in Chicago, these shady firms/attorneys regularly mail out and advertise to tenants just fishing for someone who might be swayed by their offer of a $5k payday due to their landlord's failure to abide 100% by the CRLTO or in the hopes that they can milk a settlement because the landlord cannot afford to defend themselves.Good news for you is that this attorney has no reputation, so if you pair up with a solid and well know landlord's attorney, they'll likely be clobbered in court, assuming they've actually filed suit.

But just that I had read it and heard and watched it so many times, that I was no longer really learning anything new, I was just recycling through the same information over and over.That's when I think it hit me that it was time to just take the leap of faith and do it.

Our plan is to buy a duplex or triplex close to downtown or in the milk district.