Here are a few approaches that I use.

I always start off clients in the resort style communities rather than trying to make a go at it in a 'regular' community.

Thank you all for your contribution to this community. 

Hi James, welcome to the community!

We'll have a guest speaker, VP of commercial and multifamily lending at a local community bank, joining us and will be speaking on all things leverage.  

As we navigate the uncertain waters of 2024, it is essential to draw lessons from the past while remaining agile and forward-thinking in our approach.

This approach will cover your mortgage and still cash flow, especially as current interest rates, expected to decline, may not offer immediate cash flow year one for LTR's.

I'd approach it with a DSCR loan.

It's a strict 2-year requirement.As for strategies to avoid capital gains on the sale, if your client doesn't meet the ownership and use requirements for the Section 121 exclusion, they might explore other options such as:1031 Exchange: If the property is an investment property rather than a primary residence, your client could consider a 1031 exchange to defer capital gains tax by reinvesting the proceeds into another investment property.Installment Sale: If your client is willing to accept payments over time, they could consider structuring the sale as an installment sale, spreading the recognition of the gain over multiple tax years.Charitable Remainder Trust: If your client is charitably inclined, they could contribute the property to a charitable remainder trust, receive income from the trust for a certain period, and then have the remaining trust assets pass to charity upon their death, potentially reducing or eliminating capital gains tax.These are just a few options, and your client's specific financial situation and goals would need to be considered in determining the best approach.

The large scale BRRR can be tricky, but having a JV from the start will help.My clients down in GA are doing well with a BRRR centered strategy, but focused on one, or both of these things to cash flow quickly:1) 2-4 unit properties2) Section 8In most lending circles, your 2-4 units are going to be classified in the same category as a SFH, so to rehab a hand full of those, you don't take the same kind of rate hit as the 5+ unit properties, but you also don't have the same kind of "experience" issues as you do with larger developments.