You are also recording your losses with the state of they allow loss carryforwards.2) As noted by someone else, a BRRR is just another rental, flipping is a business that would be subject to SE tax3) Fees will range widely by location and the firm you are working with.

It's a large house and a great lot.4750 square ft 3 bed 3 bath2 acre lot about 30 minutes from Denver with an incredible view.I would like to frame in a 4th bedroom.The house needs about 80k worth of work.

Sometimes you get more but that is what I would budgetAs you can see you need to have a wide spread and a lot of properties as some instances borrowers will fail.I have always found its more profitable to exit the deal and sell for cash unless owner financing is significantly more or you cannot sell as cash.

As the commute to Charlotte is relatively short, the school system is thriving and a wide variety of parks and businesses exist, I think it has dynamic potential.  

The VA Loan is an incredibly powerful tool, so read up on it and talk with folks (like me) who have leveraged it.Let me add in a note of caution, because you are in a unique situation as a cadet.Be hyper-cautious about fraternization. 

But it could be an incredible deal in 5-10 years.

My real estate agent, Jonathan Rich, was INCREDIBLY helpful during this process.

@Sam Ally That's incredible, it takes so much more work to con someone than to do it the right way.

Be ready for windows wide open.4.

BRRRR sounds awesome (as it is when done correctly) but incredibly difficult to make work well and you typically need a large amount of capital to get it done.