In early 2011 I had been listening to several podcasts on investing and real estate in and had been saving up funds for making my next RE purchase but I was undecided as to whether or not I wanted to buy another fixer upper in my town or pursue another RE strategy.

I know that it is gone, but in my mind that creates instant value/equity/price/something that's worth analyzing.We are undecided about staying here or leaving within a year, so we are looking at both options of buy-then-sell-soon (basically a flip, I guess?)

A bit undecided on whether to take the proceeds of the sale, pay capital gains taxes on it and invest the balance or do a 1031 exchange and replace the property with another. 

I'm undecided on how I feel about the whole refinancing and leveraging tactic, but it is starting to make more sense to me.

The BRRR was referring to a second undecided property and not the current target.

I know there are pros and cons to single families and multi-units, and I'm still undecided what direction I want to take long term.

If you do a full gut rehab on the kitchen and baths, put in all new floors, and put on a new roof and siding, its much easier to justify a new, higher value.If you want to sell, just sell and pay off the hard money.If you are undecided, then refinance first.

I was hoping to get an FHA loan; although I am undecided if it would be better to pay a low down payment but then pay a large monthly payment due to PMI or if I should use my starter money to pay the 20%.

Thanks again Bill.I wasn't feeling I need a carrot ... was just trying to understand how you were articulating the handling of late fees an/or a stepped interest rate.I'm not so much skittish over motivating the borrower as I am undecided if this is the best use of capital ... so I guess it is me, I am trying to motivate ... which is a strong indicator.I do not believe our interest rates are going to move much in three years, so I would set it at 9 - 10% (the BoC 5yr rate +3.5 - 4.5%) and leave it there; the more I think about annual adjustments, the less I think it is worth the effort.The threshold for criminal usury in Canada is 60% {all fees and charges are counted as interest on the original principal}.

I'm still undecided on duplex or triplex for my first investment.