At face value, I dont like the deal, but if you are planning to rehab, and the ARV is much higher, and you can get top dollar for rents, who know, the deal might look ok, but im looking at this from the surface.

On the surface this looks like a good deal.

I have taken a 9 hour apartment investing working shop and it was fantastic but barley scratched the surface of the process because there is so much to learn.  

I've noticed a trend bubbling under the surface of stained concrete floors as opposed to carpet or other flooring materials.

Honest question, I've heard you say "buying cash flow at a cost of $2 for every $1 returned" On the surface that looks like a ROI of 50% ($1 returned/$2 invested), but I'm curious to how you arrived at that ratio.

Over the last month general market sentiment and predictions for 2019 have changed on a daily basis as new and information has surfaced.

On the surface, it looks like a pretty good deal.

We got the house we wanted in the town we wanted, made some very minor upgrades and benefited from good ol' fashion California appreciation.Also if wanting to reduce your risk and exposure on your first BRRRR you could partner with a friend/family member.Lastly there are some more affordable parts of California or for your perhaps AZ that while long distance may be close enough for at least a few drives to the area to meet face to face with folks and get a feel for the market.

If not the business is losing money. my point is and its a point to the US  is that rents when I started funding out of state rehabbers in 2000 ish.. were already 750 to 900 in those same cities they are still 750 to 900  average rents.. no way they rose 3% in a linear fashion over the last 20 years..

You float the room with it and when it dries you have a level surface to tile.