BRRRR Strategy - HELP a newbie!

[Tiffany S.]

Has anyone ever successfully utilized the BRRRR strategy without having to do any major upgrades to the property? I made an offer on a house for 40K and it was unofficially accepted...bathrooms and kitchens were recently updated. Hardwood floors look great. Cosmetically I would change the carpet upstairs, fix some broken windows, and some paint. Avg Sale price from the comps pulled are 133K. Houses where extremely nice...im only estimating a 100K ARV here. Rents from 900-1100 according to owner.

I just feel like i'm missing something...may just be newbie syndrome. It seems as if I could purchase, rent, and do a refinance without doing much rehab. Is this typical?