However, you'll minimal capex/maintenance/vacancy and the overall return after 5 years could be very strong. 

Full Occupancy: The property achieved full occupancy within three weeks of listing, with strong tenant demand.High Cash Flow: The property generates $5,570/month in gross revenue and approximately $4,690/month in net profit after operating costs.Effective Use of 1031 Exchange: $300k of the total $420k investment was offset by the 1031 exchange, minimizing out-of-pocket expenses.Long-Term Stability: Designed for durability and versatility, the property is expected to cash flow for decadesLessons learned?

It sounds like you're off to a strong start with your real estate journey.

We’ve provided a toothbrush. 3 years later and it’s still going strong! 

If you're considering BRRRR, the FHA 203(k) loan could work for bundled purchase and renovation, but it’s often simpler to use personal funds for lighter rehab projects.You could focus on properties with strong rental potential and manageable upgrades to increase value.

Way to go @Glenn McCrorey , I went in the same position as you 12 years ago, when I started my full time real estate investment. 400 properties later, i am still going strong.

There is a very strong effort to ban them completely from R1 zoned areas which has made it very difficult to apply for a permit unless you buy a house which currently has a permit in place.

I frequent the MKE events.Leverage Your Skills: Highlight your project management expertise and strong contractor relationships when negotiating deals.

Long term Texas should remain strong for multiple strategies. 

It can't be too strong cash flow if replacing some appliances put you into negative cash flow (I assume you meant deficit, and truly didn't mean defecate).