The idea of the BRRRR strategy is to force appreciate the property so that when you refinance you can pull out your initial investment (or as much as you can) or additional cash, if the appraisal is high enough.

I welcome your insights and recommendations.Blessings to you all.

Keep in mind, the transactional costs of selling a property in Philadelphia with the high transfer taxes and brokerage fees (althoug these are expected to be reduced in light of the landmark NAR settlement that occurred yesterday), adds additional transactional costs, especially in instances where the home was purchased as recently as last year as is the case with your home.

In addition, get copies of the tenant leases or even expired leases if the tenants are month-to-month as those terms carry over.

Real estate websites such as Realtor.com, Redfin, and Zillow can give details on recent sales in the area.Use Real Estate Investment Calculators: Take into consideration utilizing additional online real estate investment calculators in addition to the BiggerPockets rental property calculator.

I would appreciate any insights.1- In a partnership or LLC, can both partners benefit from this strategy if they invest in the same property?

If, for example, a taxpayer spends one week while at a destination on activities which are directly related to his trade or business and subsequently spends an additional five weeks for vacation or other personal activities, the trip will be considered primarily personal in nature in the absence of a clear showing to the contrary.

In addition to that, the current housing shortage creates a demand for affordable housing, making renting rooms even easier to do.

Learning from others' experiences and perspectives can provide valuable insights and help you make informed decisions.Have a Plan: Define your investment goals, whether it's building passive income, achieving financial independence, or growing your wealth over time.

@Carlos Valencia @Albert Bui Matthew,Thanks for the great insight on house hacking.