BRRRR Cashflow After Refinance?

[Michael Campbell]

I am looking to purchase my first investment property in Northeast Ohio. I am interested in the BRRRR method but I am hitting a roadblock. I am able to find many SFH or multi-family properties that cashflow at least $100 per door based on the initial purchase price and accounting for 10% of rent for vacancy, 10% of rent for repairs and 10% of rent for CapEx. However, I am struggling to find properties that cashflow at least $100 per door after cash-out refinancing up to 75% of the ARV due to the higher monthly payment towards the mortgage.

Annual taxes in Northeast Ohio can be pretty high ($3000-$5000) and I think this is what is holding me from achieving $100 per door. Finding cheaper properties doesn't help my cashflow problem after refinancing if the ARV is still the same. Should I be aiming for higher rent to cover monthly expenses?

I am looking in the $50,000-75,000 initial purchase range. 

[Carrie Giordano]

Are you looking at 15 or 30 year mortgages?
I also invest in neo and am very conservative with my numbers, 10%capex,10%repairs,10%vacancy and 10%pm. I have always beat these numbers but I've only been in the game a few years so it makes me feel much more protected. When doing the brrrr you may decide to take less than the back is willing to give to make the numbers work for you.

For example, I just finished a brrrr on a property I bought in June for $42,500. I put in 6k and it appraised for $84k. My investment strategy is to take out 15yr mortgages so my properties will be paid off while I'm still young. So even though the bank offered me 63k I only took $55k because that's how the numbers work.

I know many on bp may disagree with this strategy but it works for me.