@Brody VeilleuxHouse hacking and BRRRR (Build, Refinance, Resell, Reinvest) strategies are effective for property acquisition, but they carry risks like delayed refinancing, increased debt, and property management complexity.

BUT, it would be subject to the existing $160,000 mortgage balance carrying a 2.75% interest rate.

Account Closed stated, Wisconsin Legal Blank has been tested in court and many local landlords find this to be the gold standard.

Like you mentioned and what I've read is the deal structure and sponsor carries the biggest risk so thank you!  

Treat good contractors like gold because they have the highest dollar impact on the investment. 4.

SHORT TERM OWNER FINANCE - Ask the seller to carry the note for 12 months until you can owner occupy. 

The latter process would take more time (due to capital generation from other sources), cash investment and end up with much less capital appreciation over time but would also carry much less potential risk. 

The client is seeking a minimum of $3,750,000 to pay off the first lien, but would prefer closer to $4,500,000, which would provide a few months of interest carry prior to the potential new tenant taking occupancy.

(I had additional carrying costs from a HELOC, which meant I walked with around $45,000) What made you interested in investing in this type of deal?

Quote from @Carrie Matuga: @Joseph Fenner I love your goal and how high you've set the bar.