Dynamics are good, but you may not be able to be in and out in 6months for your second project. 

Reposition - facy word for renovate, increase rent and fill vacancies3.)

I am considering using outside funds to purchase my first property, but then possibly use the 401(k) loan as a way to renovate the property. 

Your tenant in the first unit is paying $900 a month - I’m leaving out mgmt and repairs - so you have $1200 a month negative cash flow while the property is being renovated and you look for a new tenant. 

@Travis Hinnant I'd love to learn more about the projects and what you are looking for in terms of financing. 

Additionally, you will still be responsible for paying the cost of the house and any associated renovation expenses, which may be a significant financial burden. it is important to carefully weigh the benefits and drawbacks before making a decision.

Will give you a call... been swamped with some big projects over the past week. 

Wholesaled to investor, assisted with all inspections, estimates obtained and managed the entire renovation until it was time to sell and then listed for the investor and sold the property.

While you should never believe their revenue projection on a specific property without doing further due diligence, I do think their data is a good baseline and can provide an eagle-eye view of areas with better occupancy, better ADR, lower supply and therefore higher revenue potential, etc.Good luck!

It has served us well as a rental and now we are renovating it for family to move in.