So what been happening: I have made it to the point of conversation with a couple of sellers at this moment. 1 seller offered seller financing, I think that one is in the bag. 1 other is the reason why I am making this post. seller asking 190k.

And they can dump you on a moment's notice (or non-notice).

During my search I came across 6+ listings from the same seller all with tenant in place making some amount of cashflow, some of them even making $500+ cashflow(by Brandon Turner's definition).On paper, it seems I'll make cashflow the moment I buy the property. 

What are your plans on cash, are you pouring them back into the business, planning to sit on a pile of cash just in case, or are you siphoning money out of the business hoping to draw income that just can't be supported at the moment. 

I am currently providing financing for several deals that are BRRRR projects at the moment. 

I agree with some of the other posts that some of the higher projected IRRs (20+) I'm a bit skeptical on at the moment.

HMU when you have a moment and we can discuss what I have done, where I am trying to go, and swap some stories of time wearing the uniform!

I doubt you could pull out much with the amount of equity you have at the moment 😔Helocs have higher interest rates but it works like a credit card.

Patience is a virtue; wait for the right moment to seize the ideal investment opportunity.

On the Risk side, again at this moment in reference to the OPs question.