My tenant moved out a couple of days ago, and when I walked through the unit, I discovered that he had removed the curtain and curtain rod, detached the room air conditioner, and caused significant scratches on the hardwood floor from the metal bed frame legs.

Sometimes, building those relationships can lead to discovering unique financing solutions that aren’t readily available through traditional channels.I particularly enjoying going to the event that Keyrenter puts together in Coral Gables.

👋I've been researching Bay City, Michigan, and I'm excited to share some potentially lucrative opportunities I've discovered.

Thank you LeAnn, It's going to be a slow road for me - working on debt reduction, then building credit for the LLC, but that gives me time to learn and discover what strategy is the best fit for me. 

Generally, for the optimal refinance, these are top of mind for BRRRR strategy investors:Return of capital: The key “secret sauce” of the BRRRR method is to build portfolios using the same capital over and over—which relies on getting your basis (or more) back on the refinance, where basis refers to the money you invested in the property (down payment and cash used for renovations).Speed: Refinance lenders use the term “seasoning” to refer to the amount of time (typically in months) between the purchase of the property and the refinance.

I recently discovered may be able to receive funds elsewhere for the purchase.

You also risk:1) Committing mortgage fraud by misrepresenting the property and/or how you're using it.2) Exposing yourself to liability if the 3rd renter discovers they are in an illegal unit.3) Voiding your insurance.

So given the oppurtunity to inspect and discover this, you chose not to.

In regards to point 4), you mention the possibility of a tenant living for free indefinitely inside an unwarranted unit, due to the inability of the landlord to enforce rents, and the inability to perform an eviction.It's my understanding that if the Department of Building Inspection (DBI) discovers the unwarranted unit, it's possible for them to force the landlord by law to legalize the unit.

We discovered during inspection that the hall bathroom has an alcove for a shower, but no shower installed and the space is too small for a bathtub.