@Nicholas FazioBasically, use a hloc as your capital reserves for the brrr methodology.

My thought process is, start off with a less expensive property, work out the kinks in my methodology, and have a lower risk while building my knowledge and confidence. 

They take jobs in the field of their choice (technology, real estate, retail, etc), learn the business from the inside out, save some startup capital and THEN venture out on their own.The other benefit of this methodology is that if you fail, you're not going to have to flip burgers to pay your rent...you'll still have skills to go back and either try again or rebuild your war-chest for the next venture.

His statement (I made it relatively easy to view the transcript of his interview for the purpose of allowing forum members to see for themselves what his actual statements were, rather than having to rely on my abridgements and interpretations), that he "...only has a high school degree..." shows his standard methodology in doing business as well.I have a "certificate of completion" from the trade school that I went to.

Though I've come to a different conclusion.We are constantly making changes to our marketing and sales methodologies.

It gives the bullet points that a buyer will want to see initially but also provide the detail to understand your methodology.

I have two concerns, first, $90k seems very high for the rent you are expecting, I am curious of your methodology behind that estimate, to me that means structural and most major systems need serious attention. 2nd, and more importantly, you mentioned a 203(k) loan, however, correct me if I'm wrong, but 203k loans have an owner occupancy stipulation, thus, one of those units will not be rented to a tenant but to yourself.

That way you can learn the methodology for inspecting a house.3.

It is obvious this dealer had not done that or they might never have had trouble.Rather than focus on the fact that it was an auto dealer or the verbiage was about auto dealers, or even your distaste for their alleged methodology of setting interest rates, more can be learned by focusing on the facts of why it happened and the end results for the dealer.

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