Rates that low don't make sense especially if they're a no doc shop.

They keep rent low, give gifts and homemade cookies for Christmas, make upgrades whenever the tenant requests,  accept all the late rent excuses, etc.The truth is, your tenant is not your friend.

The absolute best way to avoid taxes is not earn income.  

Look for a location with low crime, then look for the neighborhoods with the best schools.

Absolutely spot on here John.

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.For ARV (After Repair Value), you’re absolutely right—it’s all about comparable sales ("comps").

Focusing solely on numbers often leads to the purchase of low-quality properties.

From there, I would like to consider a 1031 exchange in the future to acquire more units.My current property management company suggested that they could handle a mid sized apartment building but I would absolutely not consider them for it as I believe they have overextended themselves and communication is lacking.

This approach gives you access to better loan terms and makes the investment more feasible.In my market, the BRRRR strategy only works if you purchase an absolute steal from the seller—and deals like that are virtually nonexistent.

In those days it was possible to locate and tie up a “killer” deal, and close the transaction with absolutely zero of the investors own money.