Example: If you invest in a BRRRR deal and the rehab goes long or over, make sure you have some exit strategies in place: 1) have the cash or loan enough to float you all the way to the refinance; 2) You could sell it; 3) Have a backup investor in place, etc...

My renting tenants washers and dryers meant the difference between being a float and sinking some months when I stated out.

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@Leland Banner Thanks! 

Hi,I wanted to know what were the rules associated with Airbnb or Vrbo in the Watauga County in North Carolina, more specifically in areas including Boone, Blowing rock or Banner Elk or other places in the High Country of NC.Is there a maximum days per month limit that you can rent a place ?

If he's willing to do a sizable vendor take back mortgage you could float the master lease option.

In almost every property I've ever bought, there were unexpected expenses within the first six months even though I did a property inspection with a professional.How are you going to float the payment each month if it's vacant?

The GC does charge a bit higher because they are floating a larger portion than normal jobs.   2) Cash/Hard Money/HELOC/Private Money: If you can pay for the property and then refinance out as you will be living there that might be the least amount of red tape.  

OR, if you can get the rehab done quickly, then do a full-doc with a 7 yr ARM and maybe your rate will float down as things improve and you can avoid a second refi.

If you have any questions oh, there is a lot of information about this system online including some introductory YouTube videos and miscellaneous worksheets floating around.