Hello Patrick, there are a few things that need to be considered to turn this into active income such as length of average stay, hours you spend managing property and services you provide.

Here’s how I see it and a possible plan of action:Plumbing Concerns:- The Good: New plumbing inside the house is a thumbs-up.

I mean I guess if a lender has no idea what they are doing you could but I would sure not plan on it. 

On a side note, if you are planning to purchase the land in cash, great.

If you just leverage a property based on the availability of 1 tenant but don’t have any reserves for expenses that’s a terrible business plan.

My plan is to buy a few LTR’s to start out. 

I have been living in my househack for free for years now and have no plans to move unless I am too rich haha.

I don't really plan to use my license to sell to the public as I already have a full time job and our investment business will take up the remainder of our time. 

What type of financing do you plan to use?

Hi guys - would love any feedback on the below numbers I am crunching on a potential BRRRR deal.The plan is to hold on to the property, rehab it, rent it, and then do a cash-out refinance.