Class B value-add plays can be juiced up to attractive yields - 15 -17% IRRs if mark to market and updating classic units, debt quotes 2-3 years, 60 -65% levered, that include 100% of reno costs.

Purchase price: $705,000 Cash invested: $70,000 Classic house hack situation, with a TON of mistakes/lessons learned.

., ten), so it's best used for short-term things like flip financing or BRRRRs, but yes if you have the equity it's a great option.The scenario you described where you're planning to use it for a renovation and will pay it back in 6 months after a refi is the classic one.

@Daniel Anshus I have it priced at $2400 & this is what my description looks like : Classic West Richfield 4 bedroom,2 bath rambler!

From the classic developer saying "Don't tell any neighbors, the meetings are online so the neighbors won't even know!"

I understand that the commercial side is evaluated a bit differently then the classic residential side.

@Matt Meyers, I would check out Veridian Homes out of Madison, Classic Custom Homes of Waunakee, or Premiere Builders.  

I think you have the right approach, and you are dealing with a classic value add scenario where the existing tenants are actually a liability.

The BRRRR strategy is the classic example of this, and in principle it works with any type of real estate you can add value to.

From what we hear from fellow landlords in the area, there is high demand for rentals, so homes that are well-priced are going quickly.This is the address: 4726 NE 89th Ave Portland, OR 97220.Brief description: "Charming 1920s bungalow includes 4 bedrooms and 2 full baths with tasteful updates that combine classic features and modern amenities.