Yep that's the general gist of BRRRR.That has nothing to do with buying all cash and refinancing out versus obtaining lending for the purchase though.

Thanks all - I'll talk to my agent to see if I can extend the personal belongings coverage from my personal renter's policy and have it cover my tenants in the duplex... if that would even provide any additional benefit versus what the rental dwelling policy already provides.

What are the pros and cons to pulling out a line of credit on a building versus refinancing?

@Joe Papp - Check to see what properties are worth now versus what they were worth 5-10 years ago.

I am really curious to see if most of cities will only allow them to be occupied by a relative versus having and actual renter in it.

Maybe some sort of an analysis of growth rates, vacancies, rent growth versus cap rate??

Then you will know what the actual DOB Classification is versus the Dept of Finance Classification.Mala is advising you correct as well.

It is much easier to qualify for a loan when you're employed (W2) versus being self-employed.

Lastly, its one thing as you discussed to double your money in 10 years where market trends be predicted, with an extra strategy versus 30 years what this person is suggesting.The $2M deal in BK you are talking about makes sense because its 3 units for what $9K a month in rent at least.

I see a huge difference even just with $70k turnkeys versus $90k turnkeys, for example.