That sounds like a pretty aggressive first deal.

However, by changing investment income to ordinary income, on would now owe social security and Medicare tax, at the combined rate of 15.3% (both sides), less deduction from income of one half of the tax, so effective rate of 12 - 13 %.  

As unpleasant as it may sound, I would suggest calling the Tax authority in KY and tell them what your doing and what you need to do.  

We can make it a total of 5% by paying the remainder.It may sound odd - but the thing is - i can simply not nominate an agent next time.

Refinancing sounds like a great option however I am not sure if I can qualify as I started my own auto repair business about 1.5 years ago.

Sounds like you are looking for a single family home?

It's a relatively small investment which could effect you for years to come.  

This sounds like you are either bought or are thinking about buying a turnkey rental property.

Sometimes I feel like I'm missing something huge in this BRRRR strategy, as "more cash than you started with" plus "a renter buying you a house" sounds too good to be true.Finding deals?

Sounds like a good plan to me.