there are a few major risks to BRRR for someone starting out.1. contractor issues  IE cant get it done  steals money etc.2. refi  ARV's are not what you think and refi proceeds disappoint you. 3. lending changes and refi's get super tough 4. seasoning  before you can refi. back up is to be in a position to exit and break even or make a few bucks.. 

Real estate income fluctuates dramatically year-to-year, season-to-season, but you can stabilize that by living off a budget and not spending your earnings.Once you've learned how to stabilize, then you should be setting extra money aside and investing.

Income/vacancy etc varies widely depending on the property, location, and season.

Finally, I live in Litchfield country in CT, so if any investors (new or seasoned), would like to reach out please do as I always love talking and networking.

That’s a great foundational book especially in this season of life.

Purchase price: $360,000 Cash invested: $26,000 Sale price: $1,325,000 Bloomfield Mini Storage was approximately 15K square feet with about 1600 of office space ad the remaining being typical drive up access self storage units.

Find attorney, collateral storage/review co, servicer, preservation co. and title company in that state.3.

in those days no seasoning at all.. and of course the buyers who bought into our program were in the home completely renovated at 65% ARV.. the 75% ARV loan dropped and they would get some cash back 5 to 10k per house we usually had them buy 4 at once.. and cash flow that was common and acceptable in those days was 100 a month positive.So they had to put 1k down on my loan  then they got back cash at close and had 100 a month positive. 

However for the main bathroom(s) I feel they lack the storage space I desire, so I'd use a full size vanity unless you have a lot of extra storage throughout, closets, cabinets, cubbies, shelves, etc.)Tile: Subway tile is still in, but perhaps try using a larger option, like a 4 x 16 tile.

Sounds like a sucker.There's no seasoning period for selling a note.