@Stephen Warnock Congrats on taking your first step!

Advantage here is I don't have to pursue outside investors and speed of cash access. 

BRRR gives you the opportunity to step into the market with a lot less risk because you have more time to pick your exit. 

This property was purchased at a auction at the courthouse steps.

If I can make this happen it will be a major step toward realizing my dream of retiring from my day job by 2027 to work for myself full time, investing in real estate. 

If they rent it and then leave it as an inheritance whoever gets it would be able to get the step up basis to the FMV and again there'd be no taxes paid on that.

I think taking ACTION is the most important step you need to do.2. 

How do you guys take your first step?

Sounds like a big step. 

It has been often suggested here and elsewhere to pursue something that keeps a toe in the water of the working world, as it limits the downside risks, and could turn into a fruitful enterprise for post-retirement.At the request of a friend and BP associate, I've been asked to provide expert opinion and electrical analysis on residential properties that are either on the market, or recently sold through his brokerage, as there are many customers who want a deeper look at their electrical system, deeper than what a typical home inspector will do, but they are not ready to ask a contractor to come out and simply give a blank check to 'fix whatever's wrong' (famous last words).