I was thinking of buying an investment property with 20% down using a conventional loan then using the BRRR method to refinance and move on to my next project.

Ignore your friends that think their gaming skills will provide future employment.  

There is lack of income.If you're employed and have a $100k salary, you report $100k income and pay taxes on $100k.If you're fired mid-year, you only received $50k, so you only report $50k income.

@Rijm D. the lender you get the HELOC from will have their own appraisal method. 

To make matters a little more complicated, if you are currently self-employed, you are not allowed to declare 100% of your income.

To make matters a little more complicated, if you are currently self-employed, you are not allowed to declare 100% of your income.

Being self-employed and only three years of credit history makes it really hard to qualify for a mortgage.  2019 is finally going to be the year that I can afford one... because my last two years of tax returns show I've made enough money to get approved for a mortgage. 

Is a lot of the population employed by the Oil industry?  

I keep hearing about the BRRR method for example but not a lot of details about how the refi changes the numbers.

I got my desired monthly cash flow for each of them using that method.