You might have to pay closing costs twice, so make sure that is calculated somehow, maybe you are rolling that into the loan amount, or maybe that's what the $5,000 is.Assuming your numbers are accurate this deal looks like an equity play rather than a cash flow play.

I am a Real Estate Broker, Investor, Property Manager and Remodeler all rolled into one.  

(or find a bridge lender that will roll it into a perm loan)

In the spirit of the Podcast's "Deep Dive," I figured I would go ahead and provide a Deep Dive of my own for anyone who has read this far into my post :) Type: 4-Plex - Savannah, GA Units: 4 (2BR/1.5BA, 1200 sq ft Apartments) Price: $350,000 Current Appraisal: $395,000 :) Equity :)Rehab Estimate: $30,000ARV Estimate: $460,000Current Rent Roll: $2950Projected Rent Roll: $4500Cash to Close: $2,400 :) :) :) So here goes - I found this property by just searching the MLS (mainly Trulia and Zillow). 

The split roll won't effect any residential real estate.

It was infornative and yes for the 200....ill try the 3 day...if it gets the ball rolling the investment is worth it

So excited and can't wait to get things rolling.

At this stage I think it makes sense for me to generate income and build capital, so I might focus on creative wholesaling until I have the means to acquire a property I can flip and get the ball rolling.

If California were to roll back the taxes and regulations that have attempted to make Calif a renters paradise they would see this problem go away.

I also know that the interest costs on a HELOC might negate any of the primary mortgage interest savings listed above, but what if we are using the HELOC for the BRRR strategy and paying it off each time we roll those properties into a conventional loan?