No labor + materials.  

Quote from @Jimmy Lieu: Quote from @Andrew Syrios: The BRRRR strategy is tough these days (I even wrote an article about it that goes into more detail a little while back: https://www.biggerpockets.com/blog/beyond-brrrr-taking-advan...)In short, high interest rates as well as labor/material costs makes it hard to buy a property with debt and cash flow. 

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too. 

We manage over 85 listings.  

Also, you can't know how the cost of materials could fluctuate over your project time, so consider purchasing any materials upfront so you can stick to your budget. 

A ton of house hacking material on there :) 

Brief: Security deposits were not in the settlement statement,  we were new to Real Estate journey (so didnt know any better), and all knowledgeable parties (seller + buyer agents, and title) did not catch this in due diligence and/or missed material information. 2 of 2 renters hired lawyers to get their security deposits from us.

If it is a high end housing product you may have to use a designer because they have access to some material/finish suppliers that are otherwise unavailable but that tends to only be for the highest end housing deliveries.

One of the most important steps you can take as either a startup landlord or seasoned one is to use a platform specific to property management as it will elevate your operation and save you tons of time.The good news is that nearly every software designed for landlords includes these features.

Quote from @LaShon Evans: I manage 400 rentals and own 33.