If you like help structuring this deal differently to give you more leverage, let me know, I've worked with new investors on game plans and seen others start with 90% LTV on their very first deal.

I’m planning to cancel my membership and get refunded.

You’ll sign a piece of paper at closing saying you plan to live there ], usually within 30-60 days.

The home burns and the incredibly over taxed CA FAIR plan has either gone bankrupt or takes years to pay out.2.

I’m planning to move what I have in stock market ($2.5-3Mil) to buy a good realestate.

I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.

is why they want a payment plan.. personally I would take them up on it. 

@Chris HainsI use the House Flipping Spreadsheet (https://www.houseflippingspreadsheet.com/) to do the planning, analysis and estimating prior to purchase. 

Regarding BRRRing OOS - it can be very dangerous:(Too many newbies take contractors and agents at their word, when "trust, but verify" is extremely important.Given you're in Chicago, would recommend you plan 2 trips for a BRRRR:1) Initial walk-thru with contractor(s), which you should video for documentation & accountability.2) Final walk-thru BEFORE paying out final amounts to contractor(s). 

The key is finding the right area/market and having a solid rehab plan that doesn't go too far over budget.