Having trouble finding a BRRRR property.

[Rich Hupper]

With the BRRRR strategy, do investors expect to make $100 - $200 pre tax cash flow per door and pull out ALL the money that went into the deal including; closing, financing, holding, and soft costs? Or do they expect to pull out only the acquisition and hard costs leaving some money tied up in the property? Every property I see, after running my calculations it barely cash flows, does not have an lender acceptable DSCR, and money is left tied up in the property. I am usually only running calculations on 3 and 4 families.

Here are my figures for a recent property I am looking at which has a great asking price but will likely have bids go much higher, completely throwing off my numbers worse than they are now. 

costs			Primary Loan Variables
acquisition	200,000.00		rate	.051
holding	6,543.00		Number Periods	360.00
doc fee	800.00
appraisal	700.00
legal	1,200.00		Future Value	0.00
rehab	164,300.00		Payment Date	0.00
3 points origination	0.00		Frequency	12.00
rate buy down	0.00
			Debt service ratio	1.12
total costs	373,543.00
Minimum appraisal amount for 100% cash out	498,057.33
Actual appraisal	480,000.00
Cash out Loan 75% appraised value	360,000.00
Cash left in property	(13,543.00)
Taxes	5,523.00
Insurance	1,600.00
Maintenance @ 5% of Gross Income	2,100.00
Vacancy @ 5% of Gross Income	2,100.00
Cap Ex @ 5% of Gross Income	2,100.00
Utilities ( Common Areas or water unless submetered )	1,235.00
	Yearly	Monthly
Gross Income	42,000.00	3,500.00
Total Expenses	14,658.00	1,221.50
Net Operating income	27,342.00	2,278.50
1st mortgage debt service	24,337.81	2,028.15
PITI	31,460.81	2,621.73
Pre Tax Cash Flow	3,004.19	250.35