I'll include a BP article below that highlihgts the gist of them in alignment with BRRRRs.Also, I lived in NC for a bit, so happy to connect and introduce you to some folks in the area. https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Lots of people either rush in to quick or don't ever get in the game.

However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.

For example, in higher-end or luxury markets, where the price point is much higher, full-service staging can be a game-changer.

Hello BP, I’m writing this post for all the rookies (myself included) I think it will be very helpful for anyone who is getting started. 

Very new at this game I live in cottonwood California and I would be interested in going to meet up if my schedule would allow.

If we include investments in mortgage loans (trust deeds), real estate partnerships, REITs as well as direct property ownership, I’m at about 80%.