This method will likely give you higher cashflow than a traditional rental.

Jacob J Strawn for plumbing.

At the time I owned and operated my own plumbing business and decided to get involve with a fix & flip with my investment partners.

At the time I owned and operated owned and operated plumbing business and decided to get involve with a fix & flip with my investment partners.

Ask the seller about the condition; has anything been updated, age of roof, hvac, electrical, plumbing, etc.

The following write-up is a detailed analysis on the numbers, from purchase and closing costs, to rehab, to rent and cash flow, to the refinance, and finally to the sale of the property.The process of buying, rehabbing, renting, refinancing, and then repeating the process by using the refinance proceeds to purchase another property, was used here (BRRRR method).I thought it would be interesting to do a post-mortem analysis on this investment, and see how things worked out.Post Rehab Picture of the Kitchen.PurchaseOn 1/31/2020, I purchased this single family home for $77,000.The loan terms were a 30 year loan, 5% interest rate (higher rate since it was before rates began to fall, as well as from being on an investment property with a lower loan amount), and 20% down.Cash to close was $15,400 for the down payment ($77K * 20%), $3,750 in closing costs, and $350 for the inspection, for a total of $19,500.To fund the down payment, closing costs, and inspection, I used a HELOC (home equity line of credit).

I am looking to acquire my first property using the house hacking method. 

I was planning on doing  a binder method to the tenant and getting a raise in rent locked in.

The city inspectors will look over their work and make sure they did everything correctly thus giving you the assurance you got the job done correctly without having to know anything about plumbing.

I get that Redfin does not use the traditional methods.