In short, we are in a very favorable (and unexpected) situation where we have a lot of options!

What you dont project for is the usual 10-15% additional unexpected costs, or another 30-45k in additional costs.

I have a park next to mine that has been repositioned and is very nice.. he offered to buy it from me but not at a price I felt was a good enough return on the time we have spent goofing around with this and dealing with the delightful hold over tenants.

You have to remember that the LTV on the re-fi is going to be at 70%LTV and conservative...BRRRR really isn't that great unless you have a screaming deal...most folks that BRRRR with a lender involved get screwed when they have huge renos or unexpected costs with the combination of being incorrect on the ARV...it's really a pretty advanced technique...and there are very few places in the country where you can find deals to make BRRRR worthwhile....sometimes economic condition may create a good BRRRR climate, but those days are passed...

It's crucial to stay highly capitalized to react to the unexpected and inevitable.

We can't even trust the media to tell us what is happening right now, and even when video proof exists that they're lying they're still prone to either hold onto the lie or quietly forget about it.Anyone else remember the frequency of news articles from 2009 to 2016 discussing some negative figure of the economy (Unemployment, manufacturing, GDP, etc) and how it was usually accompanied with the word "unexpectedly"?"

As you know, in rental properties, unexpected repairs sometimes happen and with houses, the risk of being down to $0 cashflow or even negative is very high.Makes sense?

Account Closed  being able to see a fire before it happens, and do something about it before it becomes a problem.And if a fire does pop up unexpectedly, being able to stay calm while putting it out fast.

Also, if something unexpected comes up, you WILL pay for it through assessments.

In any case, you certainly wouldn't want to try to raise rent on all 3 at the same time or you might start your investing career out with an unexpected 100% vacancy.