Have a clear understanding of your expected cash flow, ROI, and exit strategy.

@Guillermo PerezPositives:- Equity Built: You now have $70K in equity, which is a solid result for your first deal.Cash Flow Potential: If the property rents well and covers your debt service while providing some cash flow, that’s a win.- Experience: You’ve successfully navigated a purchase, rehab, and refinance, which are the core components of BRRRR.Considerations: - Budget Overrun: Being $27K over budget highlights the importance of tighter cost estimates and contingencies.

getting cash flowing rentals in those states is certainly possible, but much, much more difficult than advertised. 

Purchase price: $420,000 Cash invested: $55,096 Purchased a distressed single-family home in Antioch, CA, using the BRRRR strategy to create $141,000 in equity and secure a cash-flowing rental property.

One fast way to generate cash flow is to invest in high cash flow, low appreciation markets (say several midwest e.g.

So, you’re at someone else’s expertise, decision making, experience, analytical skills, information flow, managerial capacity, oversight, etc.  

There's obviously opportunity here to build this out and turn it into a basement apartment, which I think would cash flow because of course there's no mortgage. 

.), plus hopefully some cash flow!  

I use all of them:-Brokers-Platforms like LoopNet, Crexi (my favorite), and BiggerPockets Deal Finder-additionally, brokers often have access to off-market opportunitiesWhen dealing with brokers, I've found that you have to build a relationship in order to get a good deal flow.

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.