Hey @David Caddy, I understand your frustration, and that's why I encourage beginners to set realistic expectations from day one.

This disparity highlights the importance of setting realistic and personalized financial targets.Your journey in investment, much like a sports career, depends on strategic planning, skill development, and understanding your unique playing field. 

And yes, I would want to avoid buying with un realistic numbers so either way I would not be able to increase rents much.

Is that realistic?

If I was paying $1mil (or perhaps more realistic $250k) in tax a year, I would/could be ridiculously happy! 

Realistically you could whole sale this deal for $100K to a seasoned investor.

Just make sure you're extremely realistic when estimating the rehab costs.  

If you've learned the terminology, learned how to run the numbers (accurately), figured out a strategy that works for you and have a realistic idea of the rental rates in your market, then just do it.

And thus I focused primarily on properties I could make into Class B+ or Class A.  700-1000 for a 2 bedroom, 1250-1500 for a 3 bedroom, I also tried to keep rents at levels that are realistic instead of fantastic moonshot projections.I never felt my rentals were ever going to be massive cash cows, as I generate around 0.85-0.9% of my portfolio cost in monthly gross rent, but I am happy with it and as are my tenants. 

Looking better for your BRRRR strategy, providing those numbers ARE realistic!