I ended up getting lucky and finding this one on zillow.The biggest problem I'm seeing is that everyone in my area wants close to retail price for fixer uppers - and people are paying it.

Has anyone else gone through this exercise and can shed some light on the positive and negative aspects of the different approaches?

This approach allows you to manage the property closely, benefit from homeowner loan terms, and potentially increase its value with improvements before renting it out.As you transition the townhouse to a rental, ensure the rent covers all expenses and provides a profit.

But once we went through the process of this revision to approved action, it triggered HCD to get involved since it’s in their jurisdiction since it’s a “special occupancy park”.

My question is, is this the normal way of doing a cash out refi for a BRRRR and pay closing costs twice?

We own a 1911 single family rental in a quaint country village 30 minutes from the city.

So, it’s important to do your research—check the developer’s reputation, consider proximity to jobs and schools, and look into any tax incentives.

I look forward to getting more involved with this community!

I am on Bigger Pockets to learn and better prepare myself for my career in commercial brokerage.

What can I do to discourage this behavior?