Like Deon noted, go for the highest LTV bank loan, then stack on a bridge loan at 10+% (if you can find someone to take a second) and then pull in the seller financing (if you are lucky enough to find someone that is open to seller financing). 

When working with wholesalers, be sure to share your buy box and always have a second set of eyes on any deal you're considering.

I am about to close on my second sober living home.

I am there basically to oversee the renovation and then I will move out.Anyways we plan to get a second lien to find some of the renovation.

Primarily, you would be able to deduct the mortgage interest and property taxes if you're going to use it as a second home.There may also be some other deductions I am not thinking of right now and the picture would definitely change if you were going to use one of them as a rental.

But here’s what I see a lot of people never really factor in until they’re already in deep:     The mental load of being the “everything person.”You’re the emergency contact when the HVAC dies at midnight.You’re the diplomat when a guest trashes your short-term rental.You’re the problem solver when your contractor ghosts mid-flip.You’re the one watching market news every night, second guessing every move.I’ve seen people with great numbers on paper who burn out because they didn’t factor in the weight of always being “on call.”Some people push through it.

Purchase price: $152,900 Exterior Improvements➤ Mailbox install, roof pressure wash, ramp removal➤ Smart locks on all exterior doors➤ New HVAC system with cage➤ Crawl space vent & door install, window functionality ensuredInterior & Safety Upgrades➤ Full interior paint (gray walls, white trim)➤ LED lighting throughout; smoke & detectors added➤ Deep clean, blade plug, fire extinguisher installed➤ Damaged doorknobs replaced; security system removedKitchen & Bath Renovations➤ Painted kitchen cabinets, new Formica counters, Hard wood flooring➤ Second bathroom addition in laundry area➤ Master bath: new vanity, resurfaced tub, LVP flooring, exhaust fanGeneral Repairs & Touch-Ups➤ Weather stripping, attic trim, drywall touch-ups➤ Tree limb removal, door painting, door hardware updatedStatus: Turnkey-ready, fully modernized, excellent rental appeal Nice!

Given the potential tax hit it is worth talking to a good CPA familiar with real estateDid you rent the second unit?

Have two houses purchased, one for my parents to live in (will not be making much money on this one yet) and just purchased our second, this one will be the first official BRRR.

Hi Yu Jin,Dayton is a step up from Toledo but also comes with a step up in price.The numbers make sense in many Ohio cities.You make money when you buy and not when you sell.So look for off market (We do a lot of direct to seller), negotiate hard, buy with cash and buy quickly.Great deals don't last so you need to know the numbers very well in your target market.I've flipped hundreds of properties in Toledo since 2014 and am glad to say that I know the market like my back pocket.All I need is the address, scope of work and how much I can buy it for.Quick access to AREIS, the MLS to run comps and "ka ching".I know if it's a deal or not.Immerse yourself in the market and become a market expert on the numbers.Nothing comes easy mate and all good things take time.If you are looking to build a rental portfolio in Ohio you have to build a big one.Buying 1 or 2 properties and expecting a significant impact to your bottom line from a net-worth or cashflow standpoint isn't worth the risk IMO.In all sub $100,000 markets, it's important to build a large portfolio as there is a high likelihood that you will have repairs and vacancy on 1 or 2 properties at any given moment.Just my opinion and all the best.