When it gets closer to us being able to qualify for any kind of mortgage we will probably get with an attorney to understand if an LLC is a good idea right now.

However, when the appraiser, whom BofA hired, came to my house, he submitted the report to my Lending Officer at BofA that I needed to re-paint and fix some of the damages on the exterior of my house before I could qualify for the loan. 

A common theme among the homes that would qualify as a BRRRR opportunity are that the properties would be very aged and typically need and entire gut job to be done correctly.

If not, you will likely need to partner with someone else who has the ability to raise capital.You are definitely going to need a sponsor for your first few deals to help you qualify for financing.Personally, I have a track record in investing (I own 13 units) and have the honor (and luck) to work with apartment syndicator Joe Fairless for the past three years.

If not we'd shoot for a 3 bedroom apartment and would rent out 2 rooms while living in the other one.I plan on getting started as soon as I am physically in Berlin (and qualify for a loan).

If you're a full time landlord, chances are you're not showing enough income to qualify.

Most will fail to close.If they can not qualify for a mortgage on their own they likely have either bad credit or zero financial skills to save money.

They are late and now past the grace period allotted by the lease.  

By refinancing we would be paying more than we originally qualified for (2.69) interest as rates have increased probably close to 3-3.25%.Your input is appreciated Bryce

The problem would be trying to cover closing costs, having a verifiable W-2 income so that you can qualify, and your bank might want reserves in place (around 3 months worth of mortgage) which would go well above the 4% put all together.