True mate,Always needed to get eyes on the property.Even if it meant sticking my nose on every window and looking through.Even the basement windows lolI think it's too high risk buying completely blind and not doing at least that.Ideal world, the back door is unlocked.And luckily for me "It was always unlocked" by me hahahaha Lol, yeah, I gotcha.

You won’t be able to unlock instant equity or recycle your capital into new deals, but your high W-2 income (and side income!)

Its a small cost but will pretty much guarantee you don't have to spend your time going to a house to unlock a door. https://www.homedepot.com/p/Sc...

Hi Rod, The local bank's $200K cash-out refi at 6.875% isn't perfect but clears your HELOC/mortgage, provides scaling capital, and leads to a commercial loan for 5+ properties, solving your DTI issue and unlocking a line of credit for future growth.

So your contractor will need money to buy materials and pay his guys for like 2 - 3 weeks so you can start unlocking the rehab money. 

Seems like we could be negligent if we allow self-guided tours and someone leaves a window or the back door unlocked and comes back to occupy or destroy the property later.  

At first, you won't be able to offset your W2 income with losses, but it is nice when you sell a property at a profit and all the capital gains are wiped out by losses from other properties.A huge amount of tax savings get unlocked if one of you leaves your W2 job to focus on real estate and you get Real Estate Professional Status (REPS). 

Using a cash-out refi to unlock $200k makes sense if you’re confident in your BRRRR strategy, as long as your overall portfolio remains cash flow positive.

Cost segs unlock these savings, but the losses won't offset your ordinary income from your job unless you are an RE Pro.Here's how to think about RE Pro status to make the best case with your CPA and the IRS:RE Pro Status starts with the IRS definition of a Real Estate Professional (IRS Pub 925).It is not as simple as getting a real estate license or working for a firm that provides real estate services.Ask yourself these questions to see if you qualify:Q1: Are you in the right business?

No, I am not saying syndicate but reality is that's where the big-$ is made, when you unlock OPM at scale.