My First BRRRR Deal - HELP?!?

[Mike Rutherford]

I'm new to the real estate investing world and to BP.  I purchased two buy and hold single family last year.  They are going well as I roughly got a cash on cash return of 15%.  I have a property manager and slightly increased both rents this year.  No complaints yet.  I'm recently energized after stumbling upon BP's podcast and in a place financially to scoop up a few properties quickly.

Having said that, I'm looking at my first BRRRR project. I plan to purchase it all cash with my HELOC and fund the rehab with the same HELOC funds. Rinse and repeat, right?! I'll simultaneously have my property manager lining up a tenant. I think I found something I can get in under the 70% ARV less reno costs after speaking with my contractor. But being my first rehab project, what things do I need to look for in terms of exhaustive rehab costs? I don't want to miss something big and blow the deal. Do I get an inspection to start? Everything thus far has been visual from online and drive by-s.

I can stick with a regular buy and hold (which I still plan to do as I grow my portfolio) but love the idea of infinity returns being able to pull my initial 'down payment' out.

Thoughts?

Thanks - Mike