You don't mention if that's the case, but I thought I'd bring it up.You also won't be able to recognize any loss on the sale if that's the case.

@Steven Catudali don't understand the value that he is bringing... those are all just items you can pay a professional for. 

@Geoff Engel If you don't want to be a landlord but still want to be involved with investing you could be a private money lender for flips or in partnerships and bring the money to the deal.

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Lendbase has a referral fee that they pay any residential brokers that want to bring customers. 

I would also find a good GC to bring with you to verify rehab and dial that in. 

If you go over budget, you'll be forced to bring liquidity you may not have to the refi closing table.

What off-market really means is that the seller refuses to sign an exclusive listing agreement with an agent but tells the agent if they bring them a buyer, they'll payout a commission.

And when you buy a 2-4 unit you can use 75% of the rent that the appraiser says will bring in on the units you will not be occupying.

But to your point, a current project I’m about to start, I can tell you I had to push back on ARR as the comps used by lenders were entirely outside of what I’m bringing to market.