with the BRRRR/Flip idea utilizing equity from the home, you are best off to pursue the garage idea but there are a few considerations to take into effect.

So in effect, I may end up paying the same either way but the seller is happy because they get the price they want and I'm happy because I don't have to deal with paying all these closing costs, making a large down payment, and applying for a mortgage.

You will plug this number into your underwriting to see how it affects your returns.For the occupancy question, you can run the Breakeven Occupancy and Default Ratio numbers.Breakeven Occupancy is calculated by adding up the Total Operating Expenses plus Debt Service (mortgage) and dividing it by your Gross Potential Rent.Default Ratio takes the Total Operating Expenses plus Debt Service (mortgage) and dividing it by the Effective Gross Income (Gross Income plus Other Income minus Economic Vacancy including Physical Vacancy, Loss-to-Lease, Concessions, and Bad Debt).Hope this helps.

I definitely think about climate change and it's effects on the country in the long run quite frequently, but much like Tim, haven't considered it much while investing as I too live and invest in MSP. 

Find them and eliminate them.

That said, I want to learn to manage and invest effectively, so I am planning to take the advice given, and meet this scenario head on. 

If I go 20% Down route I eliminate pmi with a lower payment and can cash flow about 750 a month. 

Do you think those depreciation schedules will eliminate my gross income tax burden from 100k in commissions? 

Hi Tessa,Maltipoo dogs are cute...but that should not effect your decision...but it might.Good Luck!

One thing I would keep in mind: A property regulation is typically only considered a taking(requiring compensation) if it majorly impairs or eliminates the "economic value" of the property.