Screening for BRRRR strategy

[Jim Cellini]

Hello BP members. I'm in the process of looking at properties for a BRRRR. One thing I've found is that my initial, subjective assessment of a good ARV winds up really not looking that great once I get to the end of my BRRRR calculation. That is to say, I'm losing money after the refinance rather than getting my initial cash back, or profiting. My question is for experienced BRRRR investors, which is - Is there a screening test you all use when looking at a property to determine if the property even has a chance of being a good BRRRR investment? More specifically, are there purchase prices and ARV numbers (ratios?) you look at right off the bat to let you know if the deal should be evaluated further?

I hope I'm asking this clearly.  Thank you all for any help and for your time.