I was just starting with quick back-of-the envelope math to screen deals and I was scratching my head hearing what other BRRR investors are quoting for after rehab/refi real numbers.

I see a lot of folks talking about services that can collect the application fee AND do the screening, such as cozy.co.

I could get a two or 3 flat for the price of a condo in Chicago, and turn it cash flow positive almost immediately.  

400K you can have a great start but you can also fall flat on your face.

Create your "qualifying standards," who qualifies to be in your house, upfront so it makes it easier to screen tenants (this is talked about in Brandon's book) and avoid discrimination, though with you living in the property rules are a bit different.

Or is the 10% down a flat fee across the board for out of state investors in Georgia?

Or is the 10% down a flat fee across the board for out of state investors in Georgia?

I’ve screened a few prospects and these two are the ones that rub me the right way.

Two dishwashers, some lights, screen enclosures, some inoperable cooktop units etcMy Estimates (note that the market CAP is 7-8%):- WORST case scenario for rents ($1225), occupancy rate (88%) and high repair costs ($75K): 2.3% CoCr and 5.1% CAP - BEST case scenario for rents ($1300), occupancy rate (95%) and low repair costs ($20K): 7.6% CoCr and 6.6% CAP rateEven though I strongly expect the numbers to look closer to the best case scenario above, considering my out of pocket expenses are going up with all of the repairs and also that the stock market is tanking right now and money is becoming scarce, I'm not so sure about this deal.

Below is a screen shot of my figures.