Welcome to BP @Spencer Tillman, we noticed you aren’t a Pro member at this time and we would love to offer you a 20% off discount to start taking action in investing with confidence!

You only really have a couple of options.HELOC/LOC with the property as security.Refinance the first and walk away with a bigger first.A great way to get into properties with little money down though is to buy distressed assets at a discount, force appreciate them, and refinance to pull the cash out.

Fire suppression, fire walls needed, Sewer/Water/bathrooms/electical breakout, etc  Determine cost effectiveness.  

Toledo pretty much offers the same, if you're set on that city connect with @Engelo Rumora Thanks for the plug mate,Hi Ken,We probably won't be able to assist as we offer turnkey and only to cash buyers.Our lowest entry point is $65,000 and that buys a 2 bedroom, 1 bathroom home that will rent for around $800pm.Plus, I'm pissed of with investors and lately and keeping all deals for myself heheI think you are on the right track with the 43607, 43612 and 43613 zip code.I encourage you to take a look at 43609 and select areas of 43610 and 43620.BRRR out of state is a recipe for disaster but since you are in Michigan, it isn't too bad I guess.Even being as close as you are and even if you lived in Toledo, I would always advise to get professional property management.An investors role is just that, to be an "investor".Elevate and delegate...Sure, you can probably manage 1,2 or 10 properties but that can eventually turn into a full time job.IMO, you should focus on scaling as in finding deals, raising capital, buying more properties, growing your portfolio, etc...And not dealing with tenants and toilets.Wishing you much success

I'm rethinking my verbal contract with a guy who did a complete renovation of the bathroom on the upstairs residential rental property of my duplex.

He came back and said that discussing price discounts that he's established with vendors wasn't appropriate.  

That said, I also have a friend who does flooring and gets a warehouse discount, so thats a plus. 

Purchase Discount: It's crucial to buy properties at a deep discount if you plan to BRRRR and get cash back.

In most areas, as the owner, you can legally live in the boarder (as long as the bathroom was permitted) and rent the other legal units.

Pros/Cons:    - do you need to make structural changes to meet the ADA, zoning, or fire code for the new use ( ie ramps, wider doorways, accessible bathrooms, etc