I haven't gotten my head wrapped around how the BRRR strategy works (but I want to because I only have a bit of money to use as a down and I want to recycle it!)

Instead, he strung you along, milking you for everything you were worth.I could look at your profile pic here and tell you this was a bad idea.

That avoids someone moving in a week before the month ends, paying you one weeks rent, then milking a three month eviction process.

These people milk the system for years with practically free rent.

I've also seen people acquire a property for next to nothing (inheritance, etc.) and are just trying to milk it for everything they can until someone takes it back because it isn't worth it to try and cure the outstanding liens...or they just can't afford to.

Even with the current setup, if you did a simple refinance (which would fully pay off the HM loan) and weren't able to pull out any additional funds, would you be able to have that HM lender do another deal with less cash out of pocket and keep recycling like this? 

Don't cry over spilled milk.

Its just spilled milk now...

Anthony, yes, read Dave Ramseys books, if you can't afford to buy them go to the free learning institution with free books for use in your town (called a library).You have been on these boards for years (I think you went by Tony on another RE board), always the same.The first thing you have to realize is the one common denominator in all your problems is you (this is true for all of us), if you keep having financial problems, YOU have a financial problem,,,its not caused by bad job interviews, people that aren't serious about buying something on craigslist etc.If you can't do anything else go spend 30 hours or so a week picking up scrap metal and recycling it,,you can do that anytime and it won't interfere with your schedule at your regular job.Make a plan financially and LIVE BY IT,,you don't need internet service, go sit outside starbucks and use that internet service,,between the three of you does anyone have a cell phone,,then use that as your primary phone,, I have hit bad times in my life, most of us have,,,but we decide that's not how we want to live,,,You have a financial problem, that is NOT what I call a "serious serious' problem,,,if you have a child or loved one about to find out if they have cancer, THAT is what I call a "serious serious' problem,,,,you have a situation you have allowed yourself to be in,,,make a plan and go work it out,,The way to make more money is to be better at everything you do,,then you will get noticed and will get promoted or another job offer

BRRRR will let you earn some equity on the rehab if you buy right, and recycle your money.