Also, I thought multfamilies were more expensive to build since you have that many more expensive rooms to fit out, e.g. kitchens and baths.I'm curious what else the community has to say.That's my initial take on it. 

The BRRRR method references getting money to buy the property initially either through cash or hard money, then rehabbing, renting, and refinancing. 

I initially engaged the sellers in October of 2020.

Ideally I would like for them to cover the initial cost then do the draw down from the lender (was told this is possible).

Initially, I was thinking about flipping the property but searching for better development options now since I found a potential partner who could bring in some funds. 

We purposely left them out of the initial contract to discuss compensation later.

Does this deal have the initials "G.O.V"  ?   

However, I’d like to refinance out of this property immediately with as much of my cash back as possible; here’s the question; How can put the property in an LLC I own at the initial purchase and still be “arms length away” enough so that the bank will allow me to refinance/buy out the property at a higher LTV into my personal name? 

When a property owner first contacts us and their initial question is "how much do you charge?"

Once you establish your lender and get terms in writing for the initial purchase and rehab loan, (most Hard Money lenders only require a few bits of information such as property address, purchase price, Rehab amount,  ARV, FICO, cash on hand and experience level), request a pre-approval letter and make your offer!