@Luka Jozic
I was on a podcast recently and talked a little about what you are experiencing. I read this as someone using a short-term lens to focus on a long-term issue. In your thread, you are worried about short-term KPIs like monthly cash flow, yet you purchased the properties to follow the BRRRR method.
The social side of Biggerpockets, like newsletters, blogs, and SM sites, is part of the problem. Cash flow is constantly promoted and pushed, and often, the personalities lack long-term experience, so they can't talk about the best reasons we should be investing.
You purchased six properties, and we have to assume, based on your post, that you purchased and renovated them for below a current market value. If done correctly, you can refinance most, if not all, of your initial funds back out of the properties. You can eventually refinance all or most of your funds if not done correctly. Your properties have needed constant work, making you negative for the first year. In other words, your renters have covered a majority of your costs of ownership this year, including covering your debt, and you have to put some additional money in, which raises your cost basis. However, it doesn't read like that has been substantial.
This is investment real estate. You have to expect costs, headaches, and surprises. Those things can and will hurt your monthly KPIs occasionally and sometimes for long periods. However, over time, if a renter is covering a majority of your cost of ownership and even allowing you to get the added benefit of putting money away into a rainy day fund, you are winning the real estate game.
You are controlling significant assets with little money and using the revenue they generate to pay for them. Over the next 7-10 years, these properties will fluctuate up and down in value based on the current economy; however, real estate will move up and to the right over time. At the same time, someone else reduces your debt, and you get to use the tax code to improve your tax situation legally.
My advice is to be wise but continue. Be smart and invest wisely, constantly learning from each transition. Perhaps you do things differently with your subsequent purchase or your next management company. Whatever you do, don't focus on the monthly KPIs. You bought long-term rentals, so be a long-term investor. You did it passively, so don't expect substantial short-term returns. Be a long-term investor focusing on controlling as many assets as possible most safely. I tip my hat to you because you are way ahead of many of your peers. The ability to take action can be both brave and foolish. You sound like the brave side of the coin in that you did due diligence and respected the process. You also took quick action when things were not going as expected. From what I read, I think you are on track for success. You have to allow time to do its job. Time is the #1 ingredient in a long-term investor's success. Their success depends on how much initial action they take to build their portfolio.
