Hey everyone, Brand new to BP but have been studying real estate for a while and am finally financially ready to make a move. 

We're buy and hold investors and will purchase in any market if the deal is financially sound, the rehab isn't too extensive, and the cash flow is immediate and significant. 

Anyway, I am now a little older, wiser and more financially secure and have got the itch to get back into the game; the right way this time.

As a landlord you can't act as a charity, you have your own financial obligations to your lender, your investors, your reserve funds, your other tenants, your family, your goals for growing the business, your own health issues, etc. 

I still haven't rebuilt the capital to invest, but I've almost fully cleaned up the financial mess to clean the slate for a lifetime of investing going forward (I'm only 32).

Like all of you, I dream of attaining "financial freedom" and after doing research on the many different investment paths, I have been convinced that RE investing is the best option.

Hoping to get away from the 9-5, while securing a safe financial future.Looking forward to learning and building my business. 

My guess would be that it would start a new loan, but I know that there are some loans that can convert over into a different style later on and you would want to ask your lender about that because there are probably a lot of various criteria for things like that depending on the financial institution. 

Based on my financial situation, I may be able to BRRRR either way, house hacking a multifamily is the most straight forward path for me.

When quitting a W-2 job to start a business (whether it's full-time consulting, making widgets, or wholesaling real estate), the advice has always been to get your personal financial statements in order (the "Suze Orman" stuff) before turning in your resignation.