if it is a BRRRR you'd pay the seller off when you refinanced into long term debt, either conventional or DSCR.i don't know anything about the location, market, etc. but if it needs a 40K rehab, you need to push the purchase price even lower than 140K, or it will not work as a BRRRR. 

These transactions are defined by the terms of the Mortgages , Deeds of Trust , or Deed to secure debt or what ever type of debt instrument that is state specific.

Eliminate debt, establish a budget, and save.

It may be too late.yup stop payment.. also for future reference if you cant pay cash for these kind of educational events don't do it.how are you going to do business if you have to charge this to even get started.. this is the very thing that really bugs me about the real estate education sector in the US>. talking people to go into credit card debt when they know full well only 10% or less of folks that try this or any kind of wholesaling / flipping/ notes / lending etc will do anything .. and especially if you have no capital.

I am currently enjoying my 1k monthly income with no debt, and I am nervous about leveraging.  

You can have multiple conventional mortgages and have a great credit score as long as you don't pay late or get too close to the maximum debt to income ratio.

Quote from @Charles Fay: Hello all, first time posting and wanted to ask for your advice.currently in the military awaiting a 9-12 deployment within the next 6 months.I will have ~150k savings after deployment, 85k before, with no debt, payments or anything other than basic bills, 750+ credit.

Flatline population growth is a sign of a poorly managed state and large or soon to be large, government debts (e.g., Illinois).

So if you are not cash flowing and there isn’t appreciation then the only advantage you are getting is debt pay down.

4 houses: value $6.5MEquity: $2.8Mpositive cash flow after debt, maintenance, taxes: $2000/modo I have additional capital to add?