----Financials----Purchase Price: 190,000 ( I know not an ideal BRRRR discount price)% Down: 3.5% (Again, yikes and I know not ideal)Pre-Reno Rents Appraisal: Top 1B1B - $900 (Assumed tenant paying $800) Bottom 2B1B - 1200Thanks guys!

Also as I mentioned earlier you need to ensure your location more or less matches what I mentioned above.

So BRRRR would never work with the example you gave, the ideal BRRRR involves you creating 25% equity in the combination of purchase and rehab.

Ideally I would like to find a multi-family house, where I could occupy one of the units and house hack.

We would like to use FHA or low down payment conventional financing, so purchasing as an investment and then moving there is not ideal (or legal based on mortgage fraud I would think).I spoke with a lender and they were saying they cannot loan on CA income.

If you have clear answers to these questions, then find properties that match your answers, and move forward on the best one.

Most of our amortizations are between 15-25 years based on the age of the property and condition and we'll usually match the loan term to the amortization up to 20 years.

Ideally we wanted to renovate their unit, but because they paid consistently and on time we focused on the many other repairs we needed to do.

Well, it could increase it because you're collecting more rent, it could decrease it because you have more expenses and/or more paper loss (i.e. depreciation), or it could all come out in a wash if your increases in rent approximately match your new deductions.Let's say for 2020 you have $100,000 in profits that would be taxed at whatever your tax rate is. 

I just closed on my first rei yesterday. Originally I was gonna have a mortgage up front but decided to barrow money from a family member to purchase the property with the plans to fix it up some and cash out refi in ...