If he is still being stubborn, contact him again- either every two weeks or every month following this initial contact, depending on your level of comfort. one of three things will happen in this time period:1).

As time goes on and my bonus checks pile up, I start to question, should I just save $120k and purchase a fixer upper SF outright, and then BRRRR it? 

Mom and Pop property owners with a high level of equity in their property (or own it outright) that no longer wish to manage but DON'T want to incur the hefty tax bill that comes along with selling.

This is posted a bunch on BP.First, as a "licensed broker in NC," that is your first level of licensure, right (states vary)? 

Hey Everyone, Currently the market is at some crazy levels making it hard for new investors, like me, to get into the real estate world.

One builder says spray foam between levels for sound barrier.

students deserve nice places to live. we aren't trying to be slumlords but i do realize that students probably have slightly lower expectations than other types of tenants, so i feel we wont need to break the bank in the level of finishing details like we did on our own home but we will provide housing that is clean and safe and attractive. also thinking we can use some creative materials and methods to make the units party-proof. maybe we get lucky and find some long term professors or grad students and don't have to do annual turnover on every unit. even so, i budgeted 8% for property management after watching david greene's webinar yesterday.the heloc would allow for an easy down payment and a nice buffer for rehab, and i have 750+ credit score and good wage earning history, so i think a conventional loan should not be a problem to obtain. a cash out refi might be an option on the horizon if we decide to really crank a proper rehab but the units (from the pictures i saw) are livable as-is.should i be more specific here on the address/market to get better help?

I would say if your not at the level of occupancy you want, then try it.

Pre-covid, I saw many on-market properties that were good/decent fixer-uppers for owner-occupants. 

Exclude everyone that will be above your Investment level $$$$$$.