The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

I am using the BRRRR Calculator and was wondering if Homeowners Insurance estimate was included somewhere or if I had to manually enter it somewhere? 

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

It will depend on Lender if they take Rents from Appraisal (1025) or Rents from your existing Tenants.

Hard to produce cash flow or break even with that much debt, at that rate.House-hackers, however enjoy certain one time (non-scalable) advantages that should be taken advantage of in the early days: - They can assume pre-existing debt like VA and FHA Loans (rather than take it on Subject-To which is dramatically riskier).- They can rent by the room and self-manage to produce day 1 cash flow.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.

In Texas, as a licensed agent, you’re generally required to use TREC-approved forms for real estate transactions unless an exception applies, like (I believe) leases longer than 1 year or where no TREC form exists.

These are done between the buyer (you) and Seller.The situation that is most common to find these properties are in a foreclosure proceeding, or pre-foreclosure. 

There will always be people with money who want a second home in Colorado who are fine as long as their mortgage is covered.

My buddy sold for ~$500k over its existing use value and no contingencies and did not even convey existing tenant’s deposit.  

The magazine cover that he flashes in the video as his "Realty411" interview was completely fabricated and doesn't exist anywhere.