Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lenderHow did you add value to the deal?

Building equity in your house is one of the biggest financial advantages of homeownership.

That said I like to be able to run year end reports with an estimation of tax liability so I can provide financial statement information to investors/etc.

Trade some comfort for financial stability.Part of attaining financial success is being simultaneously optimistic and paranoid. 

------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I dealt with evictions, unexpected repairs, and the ups and downs of tenant relationships—but I also made huge strides in improving the property’s value and financial performance.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

While many gurus glorify the strategies they’re selling through courses or books, methods like BRRRR aren’t easy and can put you in a tough financial spot if you’re not careful.

Also, I'm stuck with out-of-state investing which brings a whole series of risks with minimized financial upside (in my opinion) 

Buying an investment property at 21 shows amazing foresight and financial responsibility.