If you don’t have the $ be prepared to give up equity in a deal to find a funding partner.

If not, get income history and start preparing for when you're eligible

The upstart cost can sneak up on you if you're not prepared.

Hi, I’m preparing to execute my first BRRRR venture and am wondering how common it is for individuals to finance the initial property purchase as opposed to using personal cash or a hard money lender (I will use personal cash for the renovation)?

If it turns out that the pool is too low compared to the rest of the loans out there, they won't get bought and the large hedge funds where most of these lenders get their money may do a margin call and if that happens, like it did with Sprout a couple weeks ago, they file Chapter 11 because they are not prepared to pay $100 million dollars to get loan off their warehouse line.Hope that helps. 

We plan to cash flow well -as we've ran the rental calculators close to a few hundred times (lol) and is getting ready to launch to host guests in our home after about 2 months of getting funding to furnish and prepare the home.

So, in my opinion, it's more important to focus on location and be prepared for the long run (e.g. anticipate repairs, have a solid emergency fund, build self-service management, etc), than it is to find some perfect deal that may never come.

Just saying that it's an idea if you do your homework, build your systems, network with people already doing it, are willing to invest some hand-on time while you learn the space, and get a but lucky (regardless of how prepared we are, luck is always a factors in anything we do, isn't it?)

In the meanwhile, HAD will inspect your property to ensure it qualifies (they will always find something wrong, be prepared).  

As a developer, I am at my office doing research and preparing for the brand's future (I have three renderings and locations of the next properties under the brand in mind).