Like Jake Baker suggested, keep good records and have a dedicated bank account for your property, properly separating personal and business expenses.

There are at least a couple factors at play.  

Recognize there are challenges doing BRRRRs since the rate increases that have occurred in the last couple years

For example, I stay 99% occupied with my MTRs - the only vacancies are planned vacancies when I need a couple of days for a turnover.

If you scale and buy a couple more mats, this becomes more realistic.Laundromat vs.

I have a couple of notes on properties that I lent on that are currently late as it is taking longer to rehab and sell than expected.

I completed an internship in commercial real estate, and I also attended a couple of local REIA meetings/networking events before moving to Northern VA.I was able to narrow down potential strategies, and I figured both BRRR as well as wholesaling don't seem to be the best strategies for me.

Based on what you've said here, I'd probably rent it out as-is for a couple years and then 1031 in to a higher quality area. 

Thanks Dennis, I think you're right that planning for a more conservative return would be a good idea.I re-ran my numbers at an even more conservative level:Lower ARV: $800,000Lower income levels (I'm assuming it will take a couple years to get up to full potential income, but giving myself 3 years was a conservative estimate):Year 1: 50k (NOI $1,000)Year 2: 80k (NOI $31,000)Year 3: 100k (NOI $51,000)My ROI numbers come out to:1% (year 1) 46% (year 2) 76% (year 3)This scenario seems like an acceptable risk to me, when the upside seems far more profitable.

Is your highest priority immediate cash flow or would you rather have an investment that may give you a greater return but it may take a couple of years?