Hey Paul,You’re not alone on this — sub-$100K condos are tough, especially once lender minimums, condo warrantability, and association guidelines come into play.I’ve run into similar constraints before, and in a few cases the solution ended up being more about who was underwriting rather than the product itself.

Quote from @Tim Kirk: At its core, to pull off the best BRRRR possible, is the buyer paying cash for the purchase AND rehab expenses?

The idea is not to do a BRRR or pull cash out, but simply to:⁍ Use less cash upfront on deal #1⁍ Preserve capital so I can move faster on deal #2⁍ Refinance later to remove PMI and ARM riskBased on my rough math:⁍ Initial loan at 10% down ≈ $180k⁍ To refi at 80% LTV without bringing cash, ARV would need to be ≈ $225k⁍ Realistically, most near-turnkey deals won’t hit that, so I expect I’d need to bring some cash to refi⁍ Estimated “extra cost” for this strategy (PMI + higher interest for ~6 months) is roughly $1–2kSo my core question is:Does it make sense to intentionally accept a bit of short-term inefficiency (PMI, ARM, refi costs) in exchange for faster portfolio growth and better capital velocity early on?

A big part of my role is building systems that keep properties running smoothly without owners being pulled into the day-to-day.I hold an active California real estate license and enjoy connecting with owners and investors to share insights around operations, scaling portfolios, and reducing management headaches.Looking forward to learning from this group and contributing where I can.— Jackie

You can look at the city/county permit records and see who are pulling the lions share of the permits. 

The reality in today’s economy, pulling all of your money out is challenging, but the plus side is that at the end of the day your down payment after it’s all said and done might be 5% versus 20%.

You are too stupid to call me because you are a troll....not looking for solutions.

It's helpful to work with a mortgage broker as these programs are not advertised directly to the public the way conventional loan programs and mortgage brokers can help investors save money on rates, fees and help find solutions that maximize cash flow and profit. 

Cash buyers are pulling back too.

@Lolo Druff, I’d push a simple addendum/holdback that makes him hand over the abatement docs at closing, and in the meantime pull permits/CO and “before” pics yourself so he only has to sign a cost summary.