Getting right down to it, I am contemplating cashing out my 401k and taking the early cash out penalty, to fund my first step into the BRRRR strategy.

Currently have a single family home that I contemplated turning into a rental.Current loan is 2.625%, 74k owed, with a $521 mortgage payment.

At this point I’m contemplating walking and finding a new lender.

All of these stories that they had built put them in a position to believe that this project was going to be successful so it's that dream home and here are all the reasons why it makes sense when you're making a business decision you can look at those things and that's nice and it's what you should do and you can even extrapolate you can come to me and say listen here's all the spreadsheets this is why this deal makes sense.And that's a good way to look at it, a business venture but what you must do is contemplate your worst-case scenario if the market corrects back if that asset falls from where it's worth six hundred thousand down to three hundred thousand and believe me no one will believe that can happen but I've seen it so it'll go from six to three.

There's a fundamental problem with this whole philosophy of the brrr strategy the br double rs triple r quadruple r whatever rrr it is at the end of the day there are many of the gurus out there that are selling you on a brr strategy right and you are now contemplating taking down property in the very top of the market.And you're okay with no cash flow.

Jacksonville not as much as the other cities though and I would call it more like purple, with the red and blue fault lines running within the city itself.Social media is my lead gen of choice for now because it's free (except for what I've paid for BP Premium) and I've depleted just about all reserve capital I had to the point I'm contemplating taking on a day job again (with my tail between my legs having to admit that when I said I was gonna go off and be a hot shot realtor and those corporate psychopaths would never see me again, I was mistaken). 

The investor, or other type participant needs to know exactly what the risks are with each transaction contemplated.

Om contemplating moving forward on a deal I located through a wholesale, the property comes with a 30day leaseback and it needs cosmetic rehab, what should be pitfalls to watch out for?

In FL these contracts are assignable and others have told me it can be done so long as all parties are aware or verbiage on listing agreement/MLS is known for those inquiring buyers that the listing agent has "...contemplated interest in the property".

I am a registered nurse and I am contemplating quitting a job that I have been in for 6.5 years to go into travel nursing to make more money to put towards investing.