As of today I own 13 doors; 3 of them UD student rentals and the rest in Wilmington.

The rest is history. 

If you engage with tenant drama all the time you'll be doing that 24/7 for the rest of your life.

In addtion when the net investment property is ready or on the ARV you can do the same thing pull cash out and pay off the original amount and use the rest for another down payment.

The definition of “livable” or “finished” space can be surprisingly specific.In many markets, including here in Arizona, appraisers and agents generally want the space to be finished in a manner consistant with the rest of the home and serviced by a more permanent heating and cooling source.

@Guillermo PerezPositives:- Equity Built: You now have $70K in equity, which is a solid result for your first deal.Cash Flow Potential: If the property rents well and covers your debt service while providing some cash flow, that’s a win.- Experience: You’ve successfully navigated a purchase, rehab, and refinance, which are the core components of BRRRR.Considerations: - Budget Overrun: Being $27K over budget highlights the importance of tighter cost estimates and contingencies.

My grandmother wants to sell her home but live there rent free for the rest of her life.

I assumed this would be the case because the rest of what California has to offer kind of sucks.

OP it’s a good idea as long as you tie the investment to the military or civil service market.  

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!