Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

If you wait three months, you can use the new appraised value for the cash out refinance which is helpful because if you're doing a BRRRR, you're presumably adding value and will get more cash back for your next project if you wait the three months seasoning period.

What is your projected ConC return with 20% down and 60% occupancy?

Challenges with finding people who want to do a smaller projects and not cost exorbitant amount of money Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

For a "Professional" developer, defined as someone with 24 projects in the last 3 years, the minimum score drops to 660 and the down payment is only 10% with a 9% rate and 1.0% fees.

Then, as you buld knowledge & experience you can do bigger projects.3) The two above strategies can build funds to invest in rentals.

Outside of real estate, I enjoy working out at the gym, woodworking and building furniture, playing tennis and doing any and every DIY project. 

I'm currently working on a project there and have shared my knowledge about the country here too.

. —- Again I’m not saying you have to do these things; it all depends what type of investor you are and what you are looking for however it is important to understand that if you shift the responsibility of either identifying the invest property or managing or any other aspect there WILL be a trade off — in this case the turnkey company has delivered on your goal of 8-9% ROI (projected... so TBC) and in return you have traded some of the other benefits of investing in RE for the convenience of not having to do much more than to look over the properties they have sent you and funding it from the comfort of your home, office, etc. ... again if this is the goal then you are on point but if the goal is to also partake in ALL of the other benefits of RE then you should understand that and not be surprised that it’s not a ‘stellar’ investment that checks all the boxes.

I've been using QB for the last 2 years for Project Tracking on my rehab flips.