That's no big deal if it's just a room being used as a bedroom, but imagine ripping out that nice kitchen and bathroom you put in!

Since I don’t own the home until after I close on it, I would need to pay for a rent schedule for appraiser to calculate the average rental being charged for the area in which I'm purchasing.

@Vinessa EiseleInteresting negotiating skills.I have lenders who will allow seconds on DSCR loans, but the "seller financed" part is limited to 15%, whereas the borrower must bring at least 10% of their own funds to the deal. 

In normal operations and stable markets, the bank margin is typically about 160-180 bps above the fed funds rate, however we are currently seeing them build close to 300 bps of margin which tells me they are still expecting volatility in the bond market. 

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

Hey Sean - I actually have a deal in New Braunfels closing in a few weeks.

I dont want anything too far from Indianapolis but at the same time not too close to the rough areas of it.

The local economy is stable, and the potential for appreciation seems promising, especially in areas that might benefit from revitalization.Looking for Advice and Insights:Since I’m new to the area and the Missouri real estate market, I’d love to hear from fellow investors who have experience with BRRRR deals in this region.

If the tenant calls and says my door lock don’t work I deal with it nor I call a handyman.  

I also was debating a live in flip since cash flow is hard to find but I will keep running numbers in the area to find potential opportunities and deals.