And then also do you typically repay each partner their upfront costs from the profits before then distributing profits?

Additionally, keep in mind if you do this in a Roth then there are NO taxes on the appreciation, rental income or profits when the Roth liquidates the asset. 

The high property taxes takes out most of the profits. 

I think flips only make sense when even if budget goes up 20% your numbers still show a strong profit. 

Is it more profitable than long term rentals?

Quote from @Conte Cuttino: Property is in C+ area but in a different School district that’s B-If I sale I’ll get 30k profit after 9 months.If I keep as a Long term rental I’ll have to convert the garage into a illegal 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.

I’m looking to connect with those of you who are actively using or interested in the BRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy to scale your rental portfolios.Whether you’re new to BRRR or a seasoned investor, I’m here to discuss best practices, potential local opportunities, and ways we can collaborate to make your investments efficient and profitable.

With Amanda Frecks as a partner and a clear plan for strategic improvements, it was the perfect fit for a quick flip and profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

It would actually be a net PROFIT given the huge increase to tax revenues.