Projected Profit: $66,000 but i base everything on ROI% so that equates to cash on cash return of 28.9% so long as project doesnt get too crazy.Before pics: I have plenty of before pics and i am done with the new framing and we are currently doing plumbing and electrical. 

It affects the whole profit equation if you are doing a "restyle" rather than a "rehab".

I know not every bank and lender offers the program, and most of my clients who use the physicians loan have worked with BECU, but I'm sure there are other options out there too.BRRRR's are typically cash heavy - that's the "renovate" part of the equation.

Most people it takes them out of the equation for even owning a home.The policies of certain areas within the last 3 years have been disastrous for people.

Having a good cleaner or cleaning company could be the single most important part of the equation.2)  Your On-Island Contact can be any person living on the same island as the rental. 

In page 26, last paragraph right above the Example equation, it says "your cash flow would decrease by $150 a month at today's interest rates."

These are 100% part of the equation.

I am not trying to scare you away, my wife and I invest here on the OBX, but I didn't want you to get swept away by the allure of high rental rates without considering the other side of the equation. 

By adding the closing costs and the initial repairs into the COC ROI (Cash on Cash) equation, you get results that are only indicative of the first year of owning the rental.

Usually that equates to 6% of your income.