My anticipated outcome will be a solid BRRRR with a rate & term refi, at least $350/month cashflow, and a high cash on cash return. have done this several times already with clients and on my own personal properties so I know it works!

My anticipated outcome will be a solid BRRRR with a rate & term refi, at least $350/month cashflow, and a high cash on cash return. have done this several times already with clients and on my own personal property so I know it works!

For commercial multifamily, my personal preference is agency 10-year floating-rate debt. 

His daughter, the tenant, is over 30 and having a mental health crisis involving multiple personality disorder.

.: Forgot to mention I plan on keeping the property in my LLC and not my personal name.

3) Offer private funds to inexperienced newbies?

That means to flip it, you have to buy it, renovate it and then sell it for under $100k - and make a profit.Yes you can still buy houses here in the City of Detroit for less than $50k, but unless you're connected with the local market, 99% of them are going to be:1) In bad areas that will be hard to find a buyer.2) Need MAJOR renovations pushing your total out-of-pocket amount past market value:(Most of the properties like this are bought by:1) Experienced landlords that do cheap, minimum repairs to rent them out. 2) Inexperienced landlords that overpay, then can't figure out why they're not getting their paper ROIs, so they eventually sell at a loss to #1 above.To have any chance of getting market value, you'd really need buyers that plan to live in the houses.

I agree with Seth that flipping requires knowledge that takes time to learn and can be high risk for the inexperienced.

So it’s probably a combination of posters “set up” to comment by the OP AND legit albeit inexperienced people “wowed” by the claim with no understanding of the improbability of the claimed result. 

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