I have since hired 8 people and am finishing a remodel on my own property and also performing remodeling for other investors.

I ran the numbers a ton on this current remodel.

You have to account for HVAC,hot water heater, kitchen remodel, bathroom remodel, etc.

Don't be the guy/gal that has to throw together a sloppy remodel and complains to your contractor(s) that the final figures are too much simply because you made a mistake on the front end by paying too much.That said, there is nothing wrong with purchasing buy and hold properties to get your foot into the market.

Our bright idea was to move into this BRRRR we just finished remodeling and needed to cash out refinance.

Our bright idea was to move into this BRRRR we just finished remodeling and needed to cash out refinance.

The job opportunity did not work out so we started looking for another home and are in the process of closing the deal.We have intentions to fix it up and live with her parents until the remodel is done.  

So, the city sees the trash bin and they catch him remodeling the entire building without permits.Now, that walls are opened in the building this fool finds out that the entire 25 units needs new water piping and new drain and sewer pipes underneath the entire building.

Remodeled comps in the area rent for 2400-2500Mortgage payment (7% down, 3.75%, PMI, and HOA) would be 2100 per monthMy plan would be to remodel in one month upfront then live there for about a year or so then rent it out when I find my next deal.

It really depends on how extensive the remodel was.