Buy & Hold in DFW - can't make the numbers work - what am I missing?

[Eyal Goren]

Hi there, 
I've been researching the DFW metro in the past 3 weeks and running the numbers on many many deal opportunities, but nothing actually works out as a long term business.

We're looking for a standard home, nothing fancy.

Here's an example. 

https://www.redfin.com/TX/Fort-Worth/9225-Nathan-Dr-76108/home/30994800#property-history

Since we were so frustrated from the numbers, we unrealistically said, that we'll get the property for 50% discount.

So instead of the asking price 300,000 we'll get it for 160k.
Rehab 55 + hardmoney interest + closing.

And the entire deal costs - $249,378

Here's the complete calc

The only way this does work is if I take a cash-out refi of 63k (which is 20% of arv) instead of 210k as my original plan (which is 65% of arv).

My conclusion from this is that you really can't invest in buy & Hold/BRRRR in this market if you want to role your money to more properties - am I wrong?

Thanks.

Eyal