We did recognize some of the home’s potential based on its incredible location, its size and the price.  

I think I found a Deal but one of the things that makes me not moving forward with it is not being sure about the numbers. The asking price is 370,000 and the comps go anywhere between 270,000 up to 490,000 in a .5 mi...

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.