I know in theory the process of BRRR, Buy & Flip, Buy & Hold, et... but I am very worried about screwing it up and really putting myself and my family in the hole ( I have a wife and a 1 year old son).

Rentredi is maybe holding it for a while to be sure it's not getting returned, we're there between collection and disbursement.

I have the line if credit so I can pay cash for something quickly without having to hold cash.

I would hold off on Idyllwild for now.

@Zeke PalmerIf you aren't planning to hold then I would invest in Cleveland/Dayton where the margins are a bit better

Out of curiousity, why did you sell your properties and not hold onto them?

So creating value is the name of the game, as is long term buy and hold, assuming you enjoy the asset class.

There is a solution for Canadians, from NCH out of Nevada to use a regular corporation to hold limited partnerships.

I hold land personally with my wife that I am selling and at the same time I am purchasing my first str.

This affords you 2-3 properties using a portion of the $400K you have and the rest to hold onto for reserves and to stay cash fluid.