I would not have wanted my first BRRRR to have been out of state.  

One of the best tools out there is a blended rate calculator that can help you determine if HELOC or cashout makes more sense. 

Hi everyone,This is my first post here, and I'm looking for some outside input.

I will soon be purchasing my first property with a self-directed IRA. 

Rates and fees are generally better with the second home loan (though the rate is higher than a primary residence loan) and will not have a prepayment penalty that most DSCR loans have.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

The other option is to reinstate the first mortgage, but you do not want to do that if the borrower can reinstate the HOA.

These rules are not to be used in order to measure a successful deal, but rather finding a suitable deal in the first place.

Any thoughts or advise on my first property purchase? 

Working with our Rockstar agent, Bill Beck, we identified an excellent lakeside investment property near Silver Dollar City and other key Branson attractions that should (eventually) generate a 50% COC return (we have a lot of learning to do - so I'm not banking on that high of a return in the first few years).