Going with a hard money lender on your first ever investment is definitely bold.

We have all heard the old adage "Fortune favors the bold!"

That is, put plainly, a bold faced lie, no one who knows anything about mortgages thought, or thinks, that 2020-like profits (either overall profits, or per unit profits) would continue (I mean, I wish!!!!).

Hi Devonte,I have not been so BOLD as to have individuals share rooms. 

So before you take one set of questions – please add you flavor to match your expectations.

Be excited, Be brave, and Be bold! 

Be bold, but don't be reckless with debt.As a side note, while I absolutely agree with Brandon's teachings and concepts, his examples of "stacking" tend to be a bit much to swallow. 

I have it on there in bold letters that smoking in the unit can increase the cost by 3xs per item. 

Removing appraisal completely was a bold move, because it can have huge (negative) impact on your downpayment, almost like a put.

Once you get a flavor for the cap rate you should be able to accurately determine the value of the building from the NOI and understand if a refinance is "worth it" in your situation.