The HOA eats up all the cashflow so I've been looking into single family homes in Pompano Beach.

There are enough expenses associated with owning property that will eat into your cash flow over time, just regular maintenance stuff on an older house like this could easily consume all of your cash flow, and major capex issues such as a foundation repair or a new roof could easily eat up many years worth of capex reserves so I would recommend paying close attention to this type of thing.

If you are working with a conventional loan, your mortgage payment eats up more than 50% of your rent.

People think they cashflow on these but real life expenses will eat that away and likely low quality tenants.

The interest carry will eat your profits fast especially if you struggle to get the project done and sold quickly.

I have the same concerns with paying a contractor to do all of the renovation and eating the profit.

If you’re looking to BRRRR, think of the HELOC eating the cash flow while you have it out, then pay it back on the HELOC when you refi the next property & you get two streams of cash flow and two equity cushions if you can do it right.

(Not from the menu of the restaurant next door) and brokers are the uber eats of lending. 

Don’t worry though, not eating that marshmallow today.

What if one of them is too noisy or eats the other's food?