The weekly rentals were $8,000 (June) & $8,500 (July-August) As the summer season rental is approaching us, we are faced with a tough decision.

The IRS is taking a more conservative approach and you want to ensure you have all your ducks in a row + a team behind you to back you up if something comes into question.

The only advantage to this approach is to use the retirement funds without incurring taxes right now (ie UBIT), so compounding.

That’s an incredible deal—congratulations on securing 100% seller financing!

As an investor and realtor I took the opposite approach.

I know about 5 or 6 that would be incredible investments.

That said, the number of times I get on a call with a BP lead and realize they have already thoroughly researched me, including my past deals and content, is incredibly high.This goes to show that the value you put out there matters.

@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.

I took that approach with everything I rebuilt at my property in FMB and there is a peace of mind from knowing exactly how to handle the next hurricane.

This is why I prefer the cash-for-keys approach.