But if I were lending short term, if I wasn't going to offer to no payments till the balloon date and wanted to incentivize the borrower to get my money back I'd implement interest only payments, giving them smaller payments but also compensating myself over time for the loan.

There's got to be a way for those of us who can't show income to still be able to implement the BRRRR strategy.

If you want to learn specific strategies and the steps to implement them, then it may be worth your while.  

@Josefina G, @Theresa HarrisI ended up hiring an HOA attorney and as I had suspected the HOA did not implement the rental resctiction policy legally.   

I think the biggest issue is having the laws change and being to big and bulky to pivot to another business plan.Unless you are in a market with a very long history of vacation rentals (many coastal cities) I would recommend having a quickly implemented 'option B' to fall back to in case your business gets regulated away by new laws.

How do you get to the point where you say: "I know for sure that I can implement this new idea effectively."?

The city implemented a $130 million budget for 7 specific neighborhoods and thats is where you get good ROI and appreciation.

Hey bigger pockets community, I am reaching out because I been researching for a while and Im ready to go out and implement what I have learned and i am also interested in getting to know anyone in the North Jersey area who is currently active in real estate.

The DBA takes seconds to implement, but I can't see a down fall can you going this way?

We are currently enrolled in a REI mastery program and are implementing marketing strategies such as direct mail and bandit signs.