First would be acquiring the property: Inspection cost, appraisal if financing, and then closing cost. 

I also need to get the necessary updates appraised.

Purchase price: $184,000 Cash invested: $50,000 My first BRRRR property in pierce county purchased from MLS $184,000 rehab cost ~$45,000after pulling equity out $210,000 (cash out refinance), property is cash flowing over $300 per month with appraised value $350,000 What made you interested in investing in this type of deal?

I now have to refi that same home again, within less than a month, and now pay for another appraisal and pay all of the closing costs.

The lender I've been using thus far will lend on the appraised value of my properties ONLY if I've owned them for at least 1 year, otherwise they will 1) just lend on my purchase price or 2) if I wait 91 days, they will lend 100% of my purchase price + any rehab costs.Do you know of any lenders that will lend on the appraised value right from the onset without me having to wait a certain amount of ownership time?

As soon as the listing agent got back to me, I had my agent write up an offer that was my highest and best offer.Numbers:Financed 20% down conventionalListing Price - $125k, Purchase Price - $130k, Appraised for $133kSeller Credits - $3kRehab - $13.4kAll in - $43kCurrent rent - $1300Pure Cash flow - $260, CoC Return - 9.7%Lessons Learned:1) Don't get too caught up with the numbers - Started analyzing deals in this market in February and found properties that were very close to my minimum criteria.

Numbers:Financed 20% down conventionalListing Price - $125k, Purchase Price - $130k, Appraised for $133kSeller Credits - $3kRehab - $13.4kAll in - $43kCurrent rent - $1300Pure Cash flow - $260, CoC Return - 9.7% Lessons learned?

The problem is after the auction but before closing, you often do not have access to the property for inspections and appraisals.

Buyers still need to comply by their financing contingency terms, have an appraisal and structural inspection within the specified timeframes, etc. and could lose all of the money they put into those things, not to mention they're tying themselves up with a house that may not get sold to them.

Does anyone know if a mixed use 7 unit building would be appraised with the income approach or by sales comparison.