If you instead got the bank to agree to finance the repairs, they would list 100K in budgeted repairs on the HUD statement (closing statement) and then you would put down 20% of 600K (the all in price) and get a mortgage for 480K (you put up 120K) they would then hold the extra 100K in escrow and release it to you as you made the repairs.Techincally this is different than BRRRR since you are really just buying, rehabbing renting and repeating ie BRRR but are skipping the final R (refinance)

The most difficult part for this one was that the seller was wanting to close in 30 days and 45 is considered fast these days and 60 is normal if everything goes right... but my lender agreed to it and I had to act very fast each time the lender needed something in order to help make that happen. 

I agree with you, 6 month lease might limit potential audience.

If we can't make the numbers work for the bank my parents have agreed to guarantee a mortgage/HELOC, etc.

Just listen…Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode.

I agree with Patrick. 

Agree about City of Decatur, if it's walkable to the square.

I agree with the other Matt - for investor purposes, Redfin isn't bad. 

Jon, I agree with everything you said, except the implication that the smaller units won't get rented in an economic downturn. :)  Sure, the ones feeling the squeeze the most won't be traveling, but there will be plenty of people who can still manage a week/weekend away, and maybe they'd normally rent a bigger/nicer place but the smaller unit will do just fine.  

Focus on providing clients VALUE, not a discount.Edit: I 100% agree with the post above me.