I'd like to speak to another point also. 

Owner occ developments there is no value associated to the income approach so these props generally speaking will appreciate a lot more as the neighborhoods are much more desirable. builders the last thing they want to do is sell to investors if they are creating owner occupied communities.. rentals degrade the neighborhood and they will be sabotaging their own values to allow a bunch of investors to buy and rent out in their communities.So when you buy new builds keep in mind if its a build to rent community they will NOT appreciate like owner occupied neighborhoods.. might be best to find something already 3 to 5 years old where the stigma of renters dies down.. that would be best to protect your investment.

We purchased July 23, it’s a remorseful purchase in terms of quality (new build, got a 5% interest rate). 100% NOT our forever home. 

I'm in the middle of a BRRRR too and I chose to have Sherwin Williams color match "inchyra blue" for walls I usually just go with Behr but with cabinets, will be so much easier if you have high quality paint!

If you put down an earnest deposit, you might lose out on that if you decide to back out(potentially). look at the agreement.The more important thing is, do you quality for conventional financing?

An Appraiser recently told me that he would value a "builder quality" $50k garage conversion ADU at maybe around $20k, due to the requirements they have to follow.

@Augusta Owens here's some copy & paste info you won't find in a book:)-----------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

I doubt he'll be able to quality for a loan (VA) with just his income. 

@Tayvion Payton here's some useful info:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?