As of last week and my emails, they seem to have connected.I'm sure it will eventually work out, but as with good lessons sometimes, you pay for the experience. 

Here's a very basic formula that would need to work out in order to BRRR successfully... keep in mind, this doesn't account for your rental portion, just the buy, rehab, refi portion. 

Let him know that you want to have a chance to sell it with the plan you mentioned and if it doesn't work out then you'll have him list it.

I am sure that I could work out a reasonable deal with either my parents or aunt/uncle if I didn't want to pony up the full 10% for property management company.What's your take on 1 local property vs multiple long distance?

In this scenario, I would say that if you can get them to agree to 114k-133k, it would be worth your time.Be sure to use the awesome tools BP has available to make sure your numbers all work out though. 

If so, in your (all of your) experiences, does that work out the majority of the time?

Let people know that you are sorry that things didn't work out during that guest relationship.

If so, did it work out well?

@Eric BateI was wondering how that will all work out. 

If you have gone door-to-door as your strategy, how did it work out for you?