I spent $30 on some pure pepper oil, rags, rubber bands sealant and strips of wood.

So purely on income alone.If 3 units give off 42,600 expected gross that is 14,200 per year per unit or around 1,183 a month per unit rent.Take 1,183 by 4 = 4,732 by 12 = 56,784 potential gross.Take away 60% of that for expenses since landlord pays the water.56,784 - 34,070 (60% costs) = 22,714 NOI which is purchase price of 227,140 at a 10 cap without having any immediate repairs needed.So it seems the numbers work for the purchase price."

These are purely my opinions and hopefully others can build upon this.

I was not aware an llc offered tax benefits, thought it was purely for protection. 

Don't get me wrong, they are still great rentals with good margins but the margins is just not as great as pure rental gold mine.I am looking forward to take a Chicago/Cleveland trip sometimes next year Jan/Feb.

@Chris LainoDepends purely on the level of work that's needed for the home.At a certain level of physical distress, you won't be able to get a traditional loan product due to inspection or appraisal issues.If it's just outdated, you can still use a traditional product.Below that, properties in severe distress need to be purchased with a rehab loan or a hard money loan or cash.When the property is in poor condition, the deeper the discount.

If you want purely the lowest rate you can shop around w/ Quicken or the big banks.

I want to build a detailed plan to BRRRR to lvl 1 financial freedom, but to do that I must leave behind at least 200$ pure cashflow a SFR.

Listen to all of us when we say working at a job you don't enjoy isn't fun, working at a job you hate is pure misery.

Live on the beach and enjoy pure cashflow without debt.