I have deadlines to meet and loan carrying costs, etc until the parcels are sold and can't sell either until this is completed and the new legal descriptions are finalized by the city. 

Here's mine from the last few days.Propane stripper: a large piece of equipment that removes propane from semi-refined crude oil just before it reaches a fluid hydraulic catalytic cracking unit.Chulo: Spanish, a pimp or gangster type of person that is attractive looking.

However, with lots exceeding 3 acres, it was only a matter of time before big development projects started to take shape in the area.Well, the time has finally come!

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).

Final option would be a HML but they will charge for the risk premium. 

My Goals: Closing on my very first rental property purchase before September 1, 2021Keep closing on deals and BRRRRing my way to semi-retired by age 35 (7 years away)Connect with the awesome members of Bigger Pockets and forge amazing connections!

For example, we’re in the works right now with one property for an out of state investor that has a monthly rental yield of 1%, and the taxes next year on it will cap out at 2% and still be under $2500 total for the year, at $1050 semi annually when the homestead exemption is no longer on file.

When the reinspection is performed, be as gracious and polite as possible and always thank the inspector for his/her time.And finally, does your unit fall under rent control? 

I’m finally able to provide closure on this.

Now we're just acquaintances but he's still on my semi-retired facebook page.