I was in special ed classes as a kid for comprehension mostly btw.

I will never understand why someone would want to sign a lease, for a place they can't afford.  

@Anna Watkins @Steven Hamilton IIThere is case law out there to support a long-term hold being classified as a flip if it is substantially improved prior to re-sale.I'd want to understand how much of your time will be dedicated to this reno, how much income it generate compared to all of your other sources of income, and how many other flips you have done or will do in the future.If it's a one off reno, then you'll most likely be fine.

My total out of pocket is $85k.From my understanding, it being 7 units, the property is appraised based on NOI/Cap rate.

Now, I understand that markets ebb and flow and that is life, but a thought came to me: why sit in a traffic jam when I can take a new lane to the same destination?

I understand that 10% of gross rent is a standard  management  fee.  

This will help you determine how you can start analyze deals and understand your target market.

If I understand correctly you're starting with 70% of ARV Subtracting 25k and that's your offer price? 

Ask them how applying for the loan together vs separately will change your options for properties today and ability to get a second property later.Talking to a local lender is the best way to understand your lending options.

Hey BP community, I'm trying to get a handle on the BRRRR strategy and although I think I've got it I have 2 quick questions:1.) For the initial loan to obtain a property, does it make sense to go with a shorter term ...