Hi folks, after spending time on learning about most strategies, I am locked-in on BRRRR. First time real estate investor living in NJ and would do HELOC for financing initial deal. Have few questions to all experts h...

This label means that any large "paper loss" from your setup expenses and Bonus Depreciation cannot be used to offset your W2 income—deductions are limited to rental income.Your key is to show with solid records, that your personal use days (even during the initial startup phase) stayed under that limit.

Make sure that all work is completed in each phase - rough-in, trim, final - and not left for someone to complete later. 

Quote from @Josh Rushford: PLEASE READ, I NEED HELP.I made it to the refinance phase of the BRRRR method (this is my first rental property) and I'm in contract to buy the next property.

Franklinton has been seeing lots of developments like the completion of Gravity Phase 1 and phases 2 and 3 on the way.

If the occupied duplex pays the bills, I’d avoid pausing everything; either phase the heavy rehab by systems with a tight scope and contractor draws, or use a rehab/bridge product that funds purchase plus most of the reno with interest‑only during construction, then refi on stabilized rents.

It's sad to see so many investors get excited about starting their journey but then lose steam because they get stuck in the marketing phase - never giving themselves an opportunity to actually get a seller on the phone and do the fun part of investing - locking up contracts!

At the end of the day, once you’ve got stabilized SFRs with leases in place and can show consistent rent collection, you’ll be well-positioned to refinance each property individually and complete your BRRRR strategy.As for your question about prioritizing a local lender — it really depends.Local lenders can sometimes be private lenders who’ll help fund the purchase and renovation phase, but they typically don’t offer long-term loans.

Short‑term rentals can be phase two once you’ve got a manager, clear regulations, and reserves.

IT can gain cash value but as Jeff is stating it takes about 10 years for there to be any benefit.