I recently worked on an off-market deal here that turned into a great BRRRR success, proving how the right team and strategy can create equity and cash flow, even from a distance.If you ever need help analyzing deals or navigating the OKC market, I’d love to connect and assist however I can.

If you have the budget for repairs if you rent it out, definitely rent it out!

Let me know if I can be of further assistance.

Typlcally, a lender is going to lend 75% - 90% of the Cost of the project (property price plus rehab cost (scope of work)) or 70% - 75% of the ARV (As Repaired (as completed) Value).

We purchased it for 135k and we put into it about 15k in repairs, of which most of the work we did ourselves.

Here's a list of things to track:- Formal lease application- Formal signed and executed lease specific to your state- Payment history (I recommend using online rent collection like Apartments.com, RentRedi, etc)- Maintenance requests and receipts- Accounting for all rental-related expenses (repairs, utilities, etc) The more you treat it like a business, the more helpful you are to your CPA come tax time. 

I am a local realtor in the Boone, Blowing Rock, Banner Elk area and would love to help out if you need any assistance.

Some custodians are really good but have higher fees, so using them if you have a low dollar account may not be the best move and vice versa. not specifc to ET, but as a GP, we have worked with most in regards to assisting clients get their investment coordinated.

But they may want a large payout to buy it from them and it may need repairs that could need cash out of your pocket.

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.