There are great BP videos on this, especially from Anson Young and others.

Having grown up in Willimantic (you'll laugh if you know the area), I wouldn't quite classify it a slum, but definitely not my ideal place to raise a family.My question is this: I am highly interested in the BRRRR method, and there are several multifamily properties in the "slums" that I am interested in.

This is especially ideal for spec homes as these are popping up all over Florida right now and being rented out.

Ideally you will be looking for a similar property and square footage (if the house you are looking to buy is a ranch of 1,000 sq.ft you want to find a similar ranch house that just sold and you can use that sale price as your comp to determine the ARV.The other important number on the 70% formula is the rehab budget (repairs).

@Hannah Burch Ideally in the next few months!

I just looked at David Pere’s website, and watch some of his videos on YouTube.

What are the top ideal property types you want?

We're so close to aligning on purchase price, the owner just drives a hard bargain (not the ideal motivated seller but a good acquisition nonetheless).

The property could use some light renovations so ideally the tenants will move out so the investor can put some work in and add some value.

Would like some advice on this deal - thank you in advance SFH under contract for $106k (current owners purchased a year ago for $59k and did lipstick on a pig) - neighbourhood nice b /class neighbourhood - no crimeInspection brought up a few things Asbestos tiles in the basement, im told they are fine but I would prob want to epoxy over them to be safe though not needed I just dont want to have anyone at risk ($1500)Roof will need to be replaced in the next 1-2 years ($8-9kish)Garage door needs to be replaced ($700)Stairs and driveway need to be addressed ($2k)Had drain scoped needs to be cleaned out ($500)AC is working but on the way out ($2k)a few windows needs to be replaced and smaller stuff etc - looking around 15-20k out of pocket to get home up and running Now all done up this home will appraise for $120-125k and rent for 1400 a monthhowever and I understand the sellers want to make some money (home was sitting on the market for awhile) but this is a pretty big list of big expenses and while I dont mind taking them on to be all in with zero meat on the bone from an equity standpoint seems not ideal as I will be locking around 40-45k up in the property.Insight appreciated - thank you for getting this far