Using BRRR for the First Time to Buy and Hold
So my husband and I did our first refinance on our investment property and have now found another property that we want to make a cash offer. The home was a rehab where the seller is looking to flip and we think they did a stellar job. Unfortunately for them, they have had to drastically reduce the price and we're thinking they have had trouble selling because the house is a row and and is in the middle of two homes that have obvious fire damage (but they still have occupants). So, the house would make a great buy and hold for us but my husband is worried that the fire damage on the neighboring properties will result in a low appraisal once we get a tenant and look to implement BRRR. Can anyone advise how a previous fire where all repairs have been made to our property but not others would impact our appraisal? Any advise is greatly appreciated! thanks!