That’s a crapshoot, especially in a new town, but I believe between any income there along with draws on my cash reserves this is a workable plan.Having said that, I’d love any and all input on the soundness of the plan and whether I’d have success building wealth, and maybe some cash flow if I go the BRRR route.

And if both the leaving tenant and staying tenant are on the same lease, does the leaving tenant leaving nullify the staying Tenant’s lease, meaning we could draw up a new lease entirely with higher rent for the new tenant and staying tenant?  

However, where do you draw the line?

He subsequently spent 2.5 years in court and paid tens of thousands in legal fees to his lawyer to defend himself.

I see that most will have you pay points up front, then monthly interest payments, and the rehab costs can be taken out as draws. 

While I think I have the support base of contractors to draw from in order to turn repairs around quickly, I think I'd feel comfortable doing this on a 2nd or 3rd property.

I have never been asked for a copy of my title insurance policy in over 1000 transactions although a few times when an issue has come up, I have gone back to the original insurer and had them close the subsequent transaction as they were already on the hookThis is an example of the downside of these types of structures. 

If anyone has any other info, please fill me in, but its a very odd line to draw in the sand without much backing. 

Attorney fees, interest on subsequent (new) taxes, and the possibility of foreclosing, are reasons to bid to zero.

HUD says they need it or no draw?.......