Originally, the basic ingredients to Lonnie Deals were, buy dirt cheap, use lipstick, double the price, rent to own it or carry the deal, when they couldn't complete the deal, take it back, rinse and repeat.

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The ingredients are just a little different.

The recipe for projected area growth is set with all of the right ingredients: Continued low inventory, announcements of job creation, HQ influx, low residential vacancy, and strong year of year rental growth.

I must say, doing it the wrong way will give you nothing but headaches and wanting to throw in the towel.However................Doing it the right way will be FUN AND EXCITING.  1st ingredient is the Why and the Want!  

I can buy recently built homes (min cap ex), in affluent areas (80k+ median income), with highly rated schools (key ingredient for appreciation), in the path of progress (directly between Austin and San Antonio along I35), and cash flow positive from day 1 due to a favorable price-to-rent ratio. 

One key ingredient to a successful rental property is the management of it! 

These are some of the ingredients you need, to move forward.I would suggest you join a local REIA club in your area.

Depreciation is normally an after tax calculation ingredient that will determine after tax cash flow and returns.

If you can find this deal with an ARV of $800-850k you've got all the ingredients for the perfect BRRR.