Do you have any financials on this property?  

It's something I have been thinking about getting into for a few years but I never took action to get started.

learn about 1031 tax deferred exchangescomplete you financial package - 3 years tax returns P&L - real estate portfolio, credit scoreexpect to be rejected by lenders and other W-2 employees - qualify lenders, bankers, mortgage brokers - ask what products they have - see if you qualify for themlook at 20 buildings before offering on any - know the SF dollar cost - keep a journalmail lots of letters (be professional NO yellow childish communications) to owners of apartment buildingsUnderstand what a CAP rate is and how to get to it - fill out your  commercial APODVerify -verify - verify all financial data given you by sellers - sellers are liars (so are buyers) trust NO One!

I am still a relatively new investor and I have been studying the BRRRR strategy and wanting to take action.

Just because you two have decided to skirt your financial responsibilities, doesn't mean that I will follow suit.

Also, if you have advice for someone like me who is looking to increase their deal flow and eventually gain financial independence/early retirement, send it my way.

How long should you hold on to a property before selling from a financial aspect?

Repeat this process and you could surely house hack your way to financial freedom!

We would suggest working with a local community bank that can understand your overall financial picture, and structure a line of credit based upon your available equity and your ability to re-pay.

Financially it would be better to remain renting your primary residence and concentrate on purchasing investment properties.Better yet buy a multi unit and live in one unit while upgrading it to increase rents and cash flow..