This method allows you to reach out to the BP colleague and ask who they interviewed with, who they decided to go with and if they like working with their CPA/Attorney.

I know most of the time they look at the security rather than the individual, but if you built rapport with loan officers or liquid individual (for lack of a better term) can you attain cash quickly this way?

You need this for your records to protect yourself in case the tenant claims they paid the old owner.Make sure the security deposit 100% transfers to you.

Income from flipping is subject to payroll taxes (social security and medicare).

However, she also said the child is having a hard time securing a down payment.

She agreed but also assured me any damage would come from the security deposit.

My long term goal is to have a portfolio of rental properties in my local area through the BRRR method that could allow me to retire, whether or not I choose to. 

2) What methods do you use to determine a comfortable number pay the lessor per month while leaving enough  wiggle room to pay mortgage, cover for vacancies, repairs, taxes while having a good cash flow left over with the intent of saving this to use for the 20% down payment when the option is exercised.3) Would you pay for an inspection up front before the contract is signed, or wait until it's time to exercise the option?

My question is that we are really looking for flips at this point but due to potential cash flow of this property, which i have yet to analyze, do yall think this could be a good candidate for the BRRR method or are there things i need to consider first that i may not have thought of yet?

I will definitely be checking deferred maintenance during the due diligence period and most likely there will be some needed.It's definitely not 100% turn key, there are most likely some renovations I can come in and value add, especially in the exterior and extra security to make the residents feel safe as it is a C class area.