So, I'll give some details and what I might suggest knowing here:What you are describing is basically a BRRRR property.  

Basically, you're expanding your SOI, and those connections will also pass your name around.I'm investing in Citrus, Marion, and Levy Counties.

With your income + credit + experience, lenders WILL compete for this.You’ve got:800+ creditHigh W2Experience in operations/asset managementA realtor rebate (which is basically free down payment)Stabilized assets, not heavy value-addsThat’s the borrower every bank wants.My recommendation (most realistic + easiest):Step 1: Lock all 4 under contract with extended closingsYou want 60–90 days if possible.Step 2: Go to 2–3 local/regional Arkansas banks and pitch the entire roadmapTell them:“I need short-term financing (6–24 months) on up to four 4-plexes with a guaranteed takeout via conventional OO loans every 12 months.”This language is what commercial lenders understand.Step 3: Use one bank to fund all four under a master note / line of creditInterest-only, 12–24 months, no prepay penalties.Step 4: Refinance each one every 12 months into your OO productFree up capital, rinse, repeat.Final thoughtYour plan is aggressive, but it’s far from unrealistic.

While that error was partially corrected, the following month Homebase cleared out our entire owner balance, leaving us short $570, which we had to chase down and was eventually paid in an off-cycle correction.Perhaps most concerning was the lack of basic property security oversight.

Is this a location where people are out all day, and a more basic unit that sort of just as act as a place to sleep and cook simple meals?

It helps validate the value for the basic appraisals relied upon for the BRRRR refinance but usually comes back to hurt the investor on the exit.

Some basics I like to learn are where are they from, where are they currently working/living (I'm interested in possible personal connections), what do they currently own, how much do they have ($$$) for a down payment + closing costs, are they pre-qualified, etc.

@Min Zhang We understand a most of the basics and the fundamentals of BRRRR.

Their CPA can help them with a basic cost seg on that.But for larger complexes, yes, it definitely makes sense to pay a cost seg engineering firm for their services as it can result in significant tax savings.

I realized they were basically pushing the others to their max so they could swoop in and win it.And it didn’t stop there, one guy signaled his bids by shaking his leg, and another by tilting his glasses.