I definitely would like to keep 50% of what I owned if things do go side ways, which means controlling optimal reserve is the key in this equation.

@Robert Keller When you are getting started with the BRRRR strategy it is very important to have the refi part of the equation relatively lined up before purchasing.

I've never done it personally, but even if it were a $4,000 expense after 20 months of not paying for their water you have your money back.Remove the utility figures from that equation and it looks like you have a pretty good deal.I would be more sketched out by getting 3 units for 90k.

This equates to a net loss of $1 on your investment.$1 in cash flow costs a investor $2 in lost opportunity value.To show how this impacts cash flow you assume 100K in dead equity is worth $833/month.

In my opinion. most newbies get really caught up in obsessing over cash flow, but that's only one piece of the equation.

That equates to section 8 rates.

A refi appraisal rarely equates to a purchase appraisal.  

Distance adds risk into the equation. 

That said, if there are repairs that need to be made, or should I have a surprise and have to carry it for a month or so, this would be nice to have equated for. 

You are correct as inventory is increasing, and will effect the supply/demand equation.