In a perfect world that’s how I would start since it would be a lot easier than buying a home but I’m sure there’s some things I’m overseeing.

“Perfect BRRRRs” are rare nowadays.

I know its not a huge spread but like I said I wanted to try something new.Hey Jonah, Congrats on a good deal, to only need a few cosmetic touches and to get that nice little bounce in value is awesome.And 7% is probably a pretty solid estimate (usually based on FICO) but I think the important question that you are asking is what is your long term strategy with it?

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

My wife and I are investors based in Santa Barbara and have had Croatia in our sites for a few years.

Thank you,Phil Don’t have any experience with the mentioned mentors, but I do have 45 years experience in commercial real estate investing.Flipping (wholesaling) commercial properties require the same base of knowledge (real estate principles, real estate law and real estate finance) that is a foundational requirement for flipping residential properties; PLUS, extensive knowledge of the commercial property TYPE one is trying to engage with, and extensive knowledge of the local real estate market for the subject property type. 

Sell them on coin base, then just use that money to put down.

I don't get the term "DSCR loan"   I mean all loans for 5+ units are based more on the property than the buyer.     

Is the paint latex, oil or water based?

I don't want to make concessions/value reductions based on hypothetical work that they could then vote against.