Your plan sounds feasible, but there are a few things to keep in mind:DSCR Loan Flexibility – DSCR (Debt Service Coverage Ratio) loans are designed for investors, meaning there typically aren’t occupancy restrictions like conventional loans have.

Every REI has a starting point, a build up phase, and an exit phase (this doesn't have to mean out of REI...it refers to cash).The key to determining this is based on an investment plan, and where the REI is in that plan. 

Purchase price: $424,500 Cash invested: $20,640 I purchased a small detached duplex that I plan on moving into one and keep the other as a rental.

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

We are still seeing Reno as the place to be right now and Sparks is also getting more expensive. 

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

The paid version for sales has a lot more is not crazy expensive for a SaaS.

If you elect to use a VA loan, that typically means you don't plan to put any money down.

@Blaise Bevilacqua - I agree with the added expense items that others have called out including vacancy, repairs/maintenance, capex, unit turns, and low insurance.

We plan to set-up an LLC, is that the correct approach?