Learning the BRRRR strategy and am trying to figure out how to account for the initial time that is being spent on renovations after purchase that could take multiple months to complete and paying the mortgage without a tenant.

It has taken 4 years to appreciate to my initial investment (your market is similar). 

As @Brandon Turner's book highlights, you want to look out for any suspicious answers during that initial conversation - i.e. someone who needs to move "ASAP" and seems to be in a hurry could be someone who is running from their current situation. 

After the initial 5 years the rate will be reset for additional 5 years based on a fixed rate of 275 basis points over the corresponding federal reserve statistical release H.15 five year treasury contract maturity available at that time with a floor of 4.50%.

Looking to get started and Heading to the meetup tomorrow at The Hub on Kenny for the Columbus Deal Maker session.

That was just a question in addition to my initial question 😊 

Initially it was something I was helping a buyer purchase and it took their cost of living down to about $800/month using a low down payment conventional loan, subsidized by the income from the garage unit.

I just need to know enough to make an initial offer.

Seems like I have a couple options and it might not be as urgent of an issue as I initially thought.

We were initially looking to BRRRR out in the North Houston area (Conroe, Woodlands, Spring) area but couldn't find any that really cash flowed where it would make sense.