You would need an extremely high grossing property under market value on a something like a 5 year lease to profit, and you probably will not profit after startup costs until Year 2 or 3.Do not even think of trying it with 1/2 bedroom apartments or condos nor 2/3 bedroom homes. 

I've even seen agents that will finance repairs with a lien to maximize sales price for their seller.Who you work with matters and will mean the difference between a quality BRRR that cashflows or a property that doesn't work.I love to talk real estate.

New full size high end stainless appliances that include a mounted microwave and dishwasher as well as new fixtures.

Quote from @TJ Dittmar: @Jaycee Greene not quite that high I'm seeing comps in that area averaging $1300@TJ Dittmar, got it.

IE - these are highly experienced borrowers with prior debt brokerage experience and a full in-house team dedicated to shopping debt for them.

Lots of factors, but deciding factor was what what Torren described (waterfall highly favorable to GP).

We have been doing this constantly in Boise as we are such a high appreication market, but still more cost effective than CA.

To raise capital, focus on building a strong investment thesis, leveraging your track record, and networking with high-net-worth investors or experienced GPs.

A garage conversion, however, may not be subject to the same level of scrutiny.Parking Considerations – Parking is becoming increasingly valuable, especially with the rise of high-density micro-units that often lack designated parking.

Wishing I had bought a duplex or really any piece of property straight out of high school for a jump start but here I stand.