@Frankie White this is not a good BRRR property.... the most a bank will finance, based on your ARV, is $168k, so you wont recoup any of your investment to "repeat".

So for guys and gals working these C class product taking all the risk to bring that product to the busy professional they deserve to make money .. and since many finance these properties they appraise out so whats the beef if a 3rd party appraiser hired by the bank says its worth 75k then there you go..

If IRS reconstructs your income with the bank statements, you need to have a audit trial of what all the money coming in are for. 

I have a few I use that like their money being deployed at rates higher than the .5% their bank was giving them.

Even if you miraculously pulled a deal out of a hat, found a buyer, and it actually closed, it would be weeks before you get paid from it.Outside of robbing a bank or selling drugs I can't think of a way to make $1500 that quickly.

DO NOT go to your local national bank such as Bank of America or Chase.

And/Or pile up all the cashflow into paying down Property One (12K + 4.5K + 5K + 12.5K = 34K) and you'll get it done after 3 years, and be able to get LOC on P1 and P3.Or in year 3, get a line of credit on P1 and P3 together, use a bit of balance to pay off the remainder of loan on P1, allowing the bank to move into first position.Keep in mind..."

It is not something anyone expects to be able to do over night.If done rigth over time you should realize earning a lot more money than if you simply put your money and saved it in a bank or otherwise.

We have plenty of money in the bank from the sale of a home in CA.

Turn Key Type 1 vs Turn Key Type 2 1) Assumption: Turn Key – Type 1 Company Name Invests Mostly Passive Investment 2) Assumption: Turn Key - Type 2 Taking Property Subject To Mostly Passive Investment Assumption: Investor has to get financing from a bank or from Turn Key company Or Invests $80,000 cash Requires $16,000 cash plus closing costs Assumption: Investor takes over seller’s loan (Subject To or Wrap) and does not have to get financing from a bank or from Turn Key company.