This has worked tremendously for me and I still follow the principles set forth by business philosopher, Jim Rohn.

You would need to pay extra on principle to make a dent, and its like a train, hard to get moving but, you know.I haven't ran any numbers, but the refi to get a lower payment has helped me tremendously in the past.

Hi @Rhonda Shrum - You've got a tremendous place to start in Bigger Pockets. 

I'm sure your experience will help tremendously!

Hey gang,   BP has been such a tremendous help over the last year and a half that I feel obligated to give back a little and at least summarize my experience.

This involves tremendous stress and likely little to no profit. 

This in addition to my strong belief of living within one's means, I hope will propel me to financial freedom.I have held a real estate license since I was 18 years old, however, I let my license lapse last year because of the tremendous amount of competition in my area and beginning my career as an RN.

I am just outside of Atlanta & see tremendous growth to the north.

The only thing i would have to do (as far as i know at this point) would be fresh paint and  carpet.When i plug all of this information into the rental calculator here online using 20% down, $7000 (High Estimate) in repair costs, average closing costs, an after repair value of $65k (in my mind a conservative estimate considering it appraises for $73k), and ultimately renting it out for $700 a month, all my numbers look tremendous.

The strategy is to Buy land -> Build Housing -> Rent it out on Airbnb -> Refinance the property -> Repeat/ReinvestThis means you are- Avoiding expensive & strict commercial codes (5+ units)- Buying land in an area where your product is highly demanded- Adding tremendous value to the property by turning it from dirt to brand new housing- 2x-3xing the income of the property by using a short-term & vacation rental model such as Airbnb- Refinancing so that your capital is not stuck in a property, allowing it to be reinvested & grow faster- Building wealth and passive income for yourself and/or others If you have any questions or would like to discuss, leave a reply or send me a message Thanks for reading!