Could you expand it, renovate it, or capitalize on a growing neighborhood?

Big Lots has filed for Chapter 11 bankruptcy and agreed to a $620 million sale to Nexus Capital Management.

Your first BRRR should not put all of your capital at risk.6.

@Luis Herna, I don't mean to imply that finding a property worth investing in is easy, but it is far harder to raise capital than it is to find a property to buy.  

You are missing the following:  capital improvements, working capital, closing costs, pre-payments, and anything else you will need to pay in advance.You are missing several income and expense lines. 

As a syndicator, I can say that raising capital has become much more challenging since 2022, so many deals have closed in the last two (2) years that aren't fully funded and that are continuing to raise capital after the closing.There's likely truth to the money being raised going towards reserves, which is a very important part of any syndication deal (running out of money is one of the big reasons why syndication deals don't go well). 

I was in a similar position without the rezone, I can put a third unit on my duplexes property, but after running buildout numbers it makes far more sense to use that capital towards just buying another duplex.

For example, you might be into a home for $85,000 and it appraises for $110,000 which would give you the bulk of your capital back upon a refi.If you don't have the cash to do all-cash purchases you can simply buy stuff with 25% on financing upfront.

i don't think that's the case right now.I think turnkey is a good option if you have significant liquid capital, want to buy in a solid market in a solid area, couldn't care less about cash flow for 10+ years and are even willing to be negative, and are willing to pay for repairs and capex without batting an eye. 

If you want to start before the house is finished, consider a bridge loan for short-term financing or explore hard money lenders for quicker access to capital.