An accountable plan is usually the most efficient method for C Corps and S Corps when employees pay for business expenses out of pocket. 

Also using Larry's method extremely effective/efficient for new contractors.

And I'm fairly certain after renovations the deal would bring in between $3,500-4,000/mo.BUT, I would like to do this deal with a private investor and use the BRRR method.

Thank you all for having me and thanks in advance for all of those who will give me some information on the next steps for me. 

I am late to the party, but get a realtor, have them walk you thru the steps for buying your first property.A great investor minded realtor can help you find properties, help you put value on them, can do the leasing, and will have recommendations for things such as vendors, title companies, inspectors etc.

This is because Texas requires landlords to take reasonable steps to keep their losses to a minimum—or to “mitigate damages” in legal terms. 

I’m looking into alternative methods to house having and MFH run for $700k+ out here.At the moment, I live in a detached garage converted into a 600sf 1bd/1bth.Since the 700k price point for a duplex with max 3bd/2bth unit to rent it out of question for me, I was thinking of the possibility of picking up a smaller house with the possibility of converting a garage or building a separate addition that my wife and I would then be able to live in while renting the main house.I know CA is becoming very favorable towards ADU’s now a days and was wondering on if this could qualify as a primary residence for myself as well as me be able to use potential rental income for me to be able to qualify for a loan.Still new to BP and REI, I couldn’t find a google answer on this, so any help would be appreciated.Thanks!

Check the numbers to make sure you can make money with this method of financing before moving too fast with your pursuit of the condos.

Key take-away for me is to focus on neighborhoods where the RE business cycle is inclined upward, and then take steps to prepare for ups and downs on that cycle.

It's called Virtual Real Estate Investment Club.Here is a snippet of what they wrote: "It’s time you discovered the power of virtual real estate investing.Do Deals in Any Market from AnywhereNo Startup Capital RequiredGreat Stepping Stone to Bigger DealsNo Special Licenses RequiredNo College Degree RequiredUnlimited Income PotentialImagine being able to complete deals for $46,000 … $43,316.76 … $23,000 … while working from home on your computer.