I am looking to partner with a close friend of mine (we've worked together many times before with both of us in various roles) to primarily do rehabs for LTR and/or resale.

These areas are experiencing significant development and population growth, driven by families and professionals seeking more affordable housing while staying close to the job hubs in Plano, Frisco, and even parts of North Dallas.

Comp 1-2bd with 1-2bds and not 3-5bdsStep 2: columns in Excel - total sq ft, abv grade sf, below grade sf, % abv grade, % below grade, sold priceStep 3: average in Excel - avg ppsf above grade, avg ppsf below grade, avg ppsf totalStep 4: below grade finished 50-60% of above grade ppsf, below grade unfinished 25-30% of above grade ppsfThis will get you close.

Ask for seller concessions to cut down closing costs.

Ask if you title company can do a double closing and if they know what assignment of contract is.

Totally understand that those things don't closely mirror the BRRRR model too closely, but that's what I'm seeing right now. 

Take full advantage of available tax incentives by working closely with a tax professional.

For perspective, last April I closed on a new construction loan (build to rent) with a turnkey company there (Rent to Retirement).

You should have 25% down payment + closing costs, + an oh Sh*t fund on top of that. 

Many times, when i replace a water heater and take a look into some of the short pipes that connect, they are approx 80 percent closed.