There is risk of over run, there is typically no income during value add and the associated holding costs, there is the work/effort associated with the value add, and there is the refi will typically be at 75% or 80% of LTV.  

However, if you are trying to benefit from the low money down and low interest rate normally associated with a conventional loan, you could consider trying to find someone to cosign and give them a cut of the cash flow and equity in return. 

Hi BobI am still researching my first property.BTW: Have you ever attended the monthly Greater Cleveland Real Estate Association Meetings? 

I do think there’s value in getting a good CPA to get the basis right and your tax return filed properly (and the associated peace of mind with it).

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

This is unfortunate on several levels because it is extremely important to make sure clients are educated about all of their options, including the PPP options associated with DSCR loans before locking them in so they are going into the transaction with full knowledge and eyes wide open. 

Title XXXIIREGULATION OF PROFESSIONS AND OCCUPATIONSChapter 475 REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERSView Entire Chapter 475.43 Presumptions.

Most associations do not allow short term rentals (daily, weekly, etc) unless it is a condo-hotel program.

As someone who consistently see's "eat the rich" associated with the morality of all RE investing; I'm over it. 

The websites US Tax Lien Association and the Tax Lien Certificate School, are these recommendable?