When doing BRRRRs OOS, having the right team in place is vital.

Assessing both macro and microeconomics is vital.

I do agree that having a clear timeline and budget is vital and am actively doing my due diligence with researching that subject.

You upgrading the property, thus increasing the value which in turn could push out the current tenants, contributes to the vitality of that free market, a market that gives the tenants alternative options. 

For a long term real estate investor, or one who hopes to be in it long term, a great lender relationship may be VITAL to your survival during hard times and your ability to take advantage of wealth building opportunities during good times.  

As @Tom Gimer and @Peter Walther write, why wouldn't they isure is a vital question. 

Here are 5 tips that I like to share with my new team members to help them succeed.Focus on Building Strong Relationships - It is vital for your success to build strong relationships with your clients, colleagues and managers.

It's vitally important to know who you are working with, and have the history of the players involved.

Starting with smaller properties may give you vital experience and position you for success.Good luck!

Keeping each LLC’s financials distinct helps prevent this risk.Insurance: Having adequate insurance coverage for each property and ensuring it aligns with the LLC structure can also be a vital component of risk management.Legal Counsel: Regularly consult with your real estate attorney to ensure your structure and practices align with your protective strategy.In conclusion, while running everything through your holding company might simplify bookkeeping initially, consider long-term implications and ensure you are safeguarding each property and your overall investment effectively.