Here are some key takeaways from our experience flipping homes and running a renovation business in San Diego.1.

Seller Pre-Sale Financing: Consider selling the tenant-occupied property "as-is" now to an investor, perhaps at a slight discount, which could save time and eliminate renovation costs.

My advice is look for a good 2-4 unit investment property that my be a little outdated or need some TLC/renovations. 

And finding a home that needs a good renovation and mixing it with these other strategies really helps.As far as areas go, easier to cashflow on the outer suburbs of Raleigh and on the Durham side of the triangle.

The best way to do this is to renovate a unit or two to the specifications to bring it up to market.  

@Matthew Cook I would NOT pay for the renovations unless I was on title or had a very formal contract written about the split of profits.

@Troy Smith If this is your first BRRRR deal I'd meet the appraiser, shake hands, and provide a paperwork describing all the renovations you completed.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

They've become a sort of extended family.Otherwise, I had done wholesale acquisitions and a live-in flip.I have a YouTube channel with a few videos that discuss house hunting, nuances of buying real estate in Italy and show some of our renovation process. 

The last year I renovated a single family home to rent, pulled out some equity, couldn’t have gone better.