If you are working with a conventional loan, your mortgage payment eats up more than 50% of your rent.

People think they cashflow on these but real life expenses will eat that away and likely low quality tenants.

The interest carry will eat your profits fast especially if you struggle to get the project done and sold quickly.

I have the same concerns with paying a contractor to do all of the renovation and eating the profit.

If you’re looking to BRRRR, think of the HELOC eating the cash flow while you have it out, then pay it back on the HELOC when you refi the next property & you get two streams of cash flow and two equity cushions if you can do it right.

(Not from the menu of the restaurant next door) and brokers are the uber eats of lending. 

What if one of them is too noisy or eats the other's food? 

The refinancing costs will eat up whatever you will save in the long run. 

Plus a benefit to cypress wood is termites don't like it and won't eat it.

A down payment, closing costs, immediate repairs, or a low appraisal could eat up the majority of that $10k right off the bat.