Not only is the money good, I'd pick up essential salesman and negotiation skills taking it serious.But appreciate the reply, hopefully I have some property under my belt this time next year.One more thing, did you use any business entities for asset protection on your property?

Second, in general raising what amounts to discretionary capital to invest into a risky asset class from non-accredited investors some would argue is a powder keg.

What should I have in order (financially) before starting REI?

I just bought a property in Indy and I am using Barratt Asset Management.

Typically they won't call it just for the asset value being lower, unless there are changes to your personal finances.

They can try to do a short sale and get money if it's an underwater asset.

There was an episode on American Greed about Remington financial.. they were in business over 20 years their target was small commercial to bigger multi or commercial.. they charged 5 to 10k DD fee's estimated they brought in over 200 million in the 22 years they operated.. by the time the FBI was done with them.. they could not establish that they had made more than 11 loans in all those years.... long prison sentences. your instincts are fine and intact.

There are also some who take a more business-like approach and will look at the asset, the cash-flow and the leverage, which would mitigate weaker tax returns.

With low financials for a first deal; your pitch, passion, and niche will be more important than trying to meet straight numbers.

I just ran a property that I would love to buy if I can find the private money or possibly the hard money at the right rate and ran it through the BRRRR calc.All looks great except when I look at the financial projections section I see the following...50% Rule Cash Flow Estimates Pre-Refinance Total Monthly Income: $2,850 x50% for Expenses: $1,425 Monthly Payment/Interest Payment: $600 Total Monthly Cashflow using 50% Rule: $72 50% Rule Cash Flow Estimates Post-Refinance Total Monthly Income: $2,850x50% for Expenses: $1,425 Monthly Payment/Interest Payment: $556 Total Monthly Cashflow using 50% Rule: $869Am I missing something or should the total monthly cashflow Post refi be that high?