I would recommend placing on extension and finding a local CPA with property knowledge. 

**Affordability and Quality**: Given the property's affordability and quality, there was no immediate need for the extensive renovations typically involved in the BRRRR strategy.4.

I'm also looking at states like Michigan, Ohio, Tenn and Alabama if there's any expert out there with extensive knowledge please share it with me I'll greatly appreciate it. 

@JD Martin a long time voice of reason seems to say at least 75% empty.So either you ask for an extension or cancel the deal as I doubt a reasonable seller would take their property off the market that long. 

I want to start this thread to get ideas, opinions and valuable tips on how to do it RIGHT.Lately I have been reading on this subject ,extensively , and trying to learn as much as I could.

We aren't using the garage at all and aren't planning on doing so, so we thought on making it a living space separated from the house for rent, which we'll sacrifice 1 of the bathrooms to add it to it, and later on do the same with 1 of the rooms as well, though I would have to make an extension to add the rest (kitchen, bathroom, etc.) so that way we could take advantage of the space we aren't using. 

If they do inquire we just say we have plans for an extensive reno or the owner is requesting the unit emptied.

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

I have an extensive network of properties and being a licensed realtor myself I have access to things that aren't brought to market How did you finance this deal?

The "extend and pretend" strategy hopes rates will be lower when the extension period ends.