The following write-up is a detailed analysis on the numbers, from purchase and closing costs, to rehab, to rent and cash flow, to the refinance, and finally to the sale of the property.The process of buying, rehabbing, renting, refinancing, and then repeating the process by using the refinance proceeds to purchase another property, was used here (BRRRR method).I thought it would be interesting to do a post-mortem analysis on this investment, and see how things worked out.Post Rehab Picture of the Kitchen.PurchaseOn 1/31/2020, I purchased this single family home for $77,000.The loan terms were a 30 year loan, 5% interest rate (higher rate since it was before rates began to fall, as well as from being on an investment property with a lower loan amount), and 20% down.Cash to close was $15,400 for the down payment ($77K * 20%), $3,750 in closing costs, and $350 for the inspection, for a total of $19,500.To fund the down payment, closing costs, and inspection, I used a HELOC (home equity line of credit).

Final option would be a HML but they will charge for the risk premium. 

@Wesley Mullen, Obed hit the nail right on the head.

When the reinspection is performed, be as gracious and polite as possible and always thank the inspector for his/her time.And finally, does your unit fall under rent control? 

I’m finally able to provide closure on this.

I’ve bobbed around quite a bit trying to figure out what I’ve wanted to do and finally decided that I want to flip houses for income to get more rentals and of course more flips.

One of my close friends who is also working in the Real Estate field suggested the biggerpockets podcast and ever since I have loved listening to them and finally made my way to this community.I look forward to talking with others in this community, both newbies and experienced investors, and making some great lifelong connections!

Being the oldest sibling, and fortunately also the executor, my wife made the final decision, which she was allowed to do and they fortunately respected.

Borrower must have cash for final 40%. 

My two partners and I just finally about to close on our first duplex in Augusta.