Does anyone have any strategies for keeping tenants paying as close to the 1st as possible without causing a legal issue due to the grace period?  

The strategy is BRRRR and that's the reason the ARV analysis is used below as well.

But the whole point of using that strategy is to use an FHA or other homeowner advantaged loan.

I want to use the financing strategies I learn above, coupled with that $ to either do straight flips, OR do some BRRR.My first question is, HOW do I get access to that $, and use it without getting murdered by the feds in fees, taxes and limitations...?

Flipping to build chunks of cash to invest in buy and hold rentals is a common strategy.

This would be my strategy.

My niche is single family/townhouses to start, with a strategy to buy and hold for the long term.

I'm wondering who out there has had success implementing the BRRRR strategy in the Midwest or in some other high-cash-flow area while living out of state.  

Anyone having success doing the BRRRR strategy or a close variant out-of-state (or long distance in-state, I suppose) while living in Austin?  

Yet I see investors doing crazy things like this in real estate.Better in my opinion to take a diversified approach to real estate. 1/3 in wealth preservation strategies without partners like performing notes at 50% LTV (which I have) or tax lien certificates.