In many cases, lenders will treat that equity as your down payment, which opens the door to funding most or all of the construction costs.

I am thinking of listing it for sale but was approached today by a local investor who was really pushing me to carry part of it or all of it. 

It's providing temporary shelter while covering some or all of the mortgage, but it becomes really sweet when you move out! 

Buy – Purchase a property under market value.Rehab – Fix it up to increase its value.Rent – Place quality tenants and start generating income.Refinance – Pull out most or all of your original cash.Repeat – Use that same capital to buy the next property.It’s like recycling your down payment—over and over again.Step-by-Step: How I Execute the BRRRR MethodStep 1: Buy RightTarget discounted off-market properties or buy from reputable wholesalers.Build in margin upfront—never count on appreciation to bail you out.Run comps, negotiate hard, and lock it up at the right price.Step 2: Rehab SmartGet clear, written bids from legit contractors.Always budget for contingencies—you’ll need them.Focus upgrades on what renters value most: kitchens, bathrooms, and flooring.Step 3: Rent EffectivelyResearch rental comps so you know your market rates.Screen tenants thoroughly—this is where many landlords get burned.Factor in vacancy and maintenance from day one.Step 4: Refinance CarefullyUnderstand your lender’s requirements (DSCR, max LTV, seasoning period).Rate shop to get the best deal.Working with local commercial banks can offer more flexibility.Step 5: Repeat ResponsiblyDon’t overleverage—cash flow is king.Use flips or private lending to fund future BRRRRs if needed.Keep reserves for repairs, vacancies, and surprises.Who Should Be Using the BRRRR Method in 2025?

Even if the appraisal isn’t sky-high, as long as your debt coverage ratio is strong, you can still pull enough cash out to pay most (or all) of that $50K back.Bridge Loan / Private Lender: If the DSCR doesn’t quite give you enough, a short-term private or hard money loan could clear your family debt and buy you time to stabilize and refi again later.Cash Flow Method: If you can’t refi right away, start making interest-only or partial principal payments to your family member from the strong student housing cash flow until you can do a proper refinance.Partnership Buy-In: As a last resort, you could sell a small equity stake in the property to another investor to raise the capital to pay her back.5.

@Alecia Loveless I made 500 seller financing offers to listing agents and not one of them presented it to their seller.However, 30% of sellers are willing to finance some or all of their equity.If you want seller financing there's only one thing you need to do: Talk to the seller yourself.I don't make seller financed offers to sellers.

Larger units with more bedrooms tend to take longer to rent in my market - New York - but I'm not sure if the same is true of Minneapolis rentals.Tips that could help fill your vacancy:- Offer to pay broker fees (if tenant is currently responsible)- Offer to include some or all utilities in the rent- Offer concessions, local PM companies or agents should have insights on concessions offered in your market (i.e. 1-month free, reduced security deposit, etc.)All the best!

Multi-state diversified portfolio (Single family, Small multifamily 10 units or less) Multi-state consolidated portfolio (all single family or all small multi or large multifamily and/or commercial)?

You could use an FHA loan (as low as 3.5% down), live in one unit, rent the others, and have tenants cover most or all of your mortgage. 

Key steps:Talk to a lender now so you know what you qualify for.Run numbers like an investor—make sure rent from the other unit covers most (or all) of your mortgage.Be realistic about management—it’s still your peer group renting from you.Plenty of people have built portfolios starting exactly this way.