I kept procrastinating with my courses, but finally in March of 2020 (after breaking my ankle and being stuck at home with nothing to do) I completed my courses and received my license.

The broker finally brought me the right one and then I let them lead me through the process.

It's hard to believe we let people like this walk free.New York Post : NYC tenant accused of turning pad into nightclub finally moves out.https://nypost.com/2021/06/02/nyc-tenant-accused-of-turning-pad-into-nightclub-finally-moves-out/

I have deadlines to meet and loan carrying costs, etc until the parcels are sold and can't sell either until this is completed and the new legal descriptions are finalized by the city. 

However, with lots exceeding 3 acres, it was only a matter of time before big development projects started to take shape in the area.Well, the time has finally come!

The following write-up is a detailed analysis on the numbers, from purchase and closing costs, to rehab, to rent and cash flow, to the refinance, and finally to the sale of the property.The process of buying, rehabbing, renting, refinancing, and then repeating the process by using the refinance proceeds to purchase another property, was used here (BRRRR method).I thought it would be interesting to do a post-mortem analysis on this investment, and see how things worked out.Post Rehab Picture of the Kitchen.PurchaseOn 1/31/2020, I purchased this single family home for $77,000.The loan terms were a 30 year loan, 5% interest rate (higher rate since it was before rates began to fall, as well as from being on an investment property with a lower loan amount), and 20% down.Cash to close was $15,400 for the down payment ($77K * 20%), $3,750 in closing costs, and $350 for the inspection, for a total of $19,500.To fund the down payment, closing costs, and inspection, I used a HELOC (home equity line of credit).

Final option would be a HML but they will charge for the risk premium. 

When the reinspection is performed, be as gracious and polite as possible and always thank the inspector for his/her time.And finally, does your unit fall under rent control? 

I’m finally able to provide closure on this.

I’ve bobbed around quite a bit trying to figure out what I’ve wanted to do and finally decided that I want to flip houses for income to get more rentals and of course more flips.