It's amazing the lengths people will go to to get a free ride.

You would need to do the refi as an investment property in order to buy a new property as a primary FHA right away.So somehow, you need to create 21.5% equity in that property in that 1st year, in order to to the Repeat step of the BRRRR method.If you are buying $60K properties in Bufoo Nebraska, it might be pretty easy to get that property value up to $80K.If you are buying a $300K property, you need to get the value up to $400K-ish in order to utilize the Refi step of the BRRRR method. 

If they owe more than the house is worth, this creates more challenges and gives them fewer options.There are some other creative ways to structure such a deal (in either case) such as a subject-to purchase or a wrap, but you'd want to to a lot of homework and understand exactly what you're getting into. 

@Dante Land welcome to to BP community! 

Someone is very unlikely to sell a fixed up home for a large discount if they don't have to. To

We get on them no matter how we have to to let them know how we operate.

To answer that question you'll need to to figure out rent and expense growth. 2.

The best thing I've found is to have someone that is doing what you are doing or at least someone that is trying to to bounce ideas and stuff back and forth with.

Henry Clark honestly appreciate for putting such an detailed, realistic points.Michael Wagner appreciate adding valid point to to Henry's detailed due diligence, decision tree checklist

It has to to with someone else, mainly the bank or whoever is holding the note taking all the risk.