It depends on the condition, but if it passes a 4-point inspection, I would definitely go for a novation first because they need help with bills, so you could probably support them with that while getting a retail buyer.

Interest rates are in the 6-7% range... so it doesn't take a rocket scientist to figure out if you are increasing your loan amount by ~$50k, and at a higher interest rate,  your payment has to go up or your terms have to extend.  

Also, don’t forget some brokerage fees when you find another renter, so account for at least some vacancy and fees once every 18 months. 

😅There are so many "it depends" answers to your questions!

Purchase price: $1,280,000 Cash invested: $400,000 we were presented with the deal by a flipper needing to exit the deal. it was only rentable for $4500/mo as is, so we created a second unit. now it brings in $7200/mo What made you interested in investing in this type of deal?

That makes no sense.This is NOT NORMAL - YOU SHOULD BACK OUT.What is the name of this company so we can all stay away? 

Hamp,I appreciate the advice.Due to moving back to Colorado, I would probably shoot for long term rentals, so possibly medical school or people stationed at FSH.  

Although there is sometimes resistance, he rarely complains because he’s making so much money!

I'll be performing the BRRRR within the single-member LLC, so that will be my primary LOC.  

But I love the one I am in, so do my clients. let me know if we can talk and how I can help you best!