As things are occurring now, the bank is being paid, so they have no interest in property seizure or foreclosure, as it is a performing note, so the FIL currently has the opportunity to conduct control of it in the same way a normal person would, which should allow him to pass this via normal methods (living trust for example) to heirs, provided the payments on the note have no interruption.Am I off on any of that?

The other method is where the sponsor calls for all of the capital at once, and the capital sits idle with the sponsor until acquisitions are made.  

My advice to you would be to learn the various methods of real estate investing such as wholesaling, flipping, buy and hold, tax liens, etc. and also learn your area to see what has been successful there. 

The average working month has 4.33 weeks in it, so you can get the same answer using your method by doing the following: $14.50 X 30 X 4.33 = $1883.55 or very close to the $1885.00 However, we as lenders use the method that the instructor used.

How long does one need to own before taking advantage of the BRRR method to spin funds back out of a property?

How long does one need to own before taking advantage of the BRRR method to spin funds back out of a property?

The BRRRR method is not designed for out-of-state investing and/or is not your best option.

@Rodeler Youte I'm using a combination of multiple financing methods.

I have a conventional 30-yr mortgage on a home that I qualified for with proof of job income. Let's say years later circumstances changed and I decided to quit my job to do real estate full-time. If I acquire a second...

What I mean is, we use a similar method as his Baby Step #3: Fully Funded Emergency Fund.