That's 50k a year gone and you are losing tax write-offs and equity potential.

Moving inland, Dover presents a more affordable option with rising demand for multifamily units and a steady rental market, though its short-term rental potential is less robust than coastal towns.

If not, then assuming that someone is in a financial situation that can afford a potential mishap, then would you say that BRRR is hands down the way to go, or am I missing something?

I know a lot about the industry through my education, but have very little/no practical experience when it comes to managing investment properties. 

Lots of older houses but there seem to be several that have the potential for cash flow and while not exactly modern on the outside, have been renovated inside. 

They can fine you for practically anything and they want all the STRs to be banned from the city.

In practice rents will be slightly lower and sometimes slightly lower.

Once I've completed these initial projects and built up some capital, my long-term goal is to transition into buy-and-hold investments in potentially more affordable markets to maximize cash flow and scale up.Right now, I'm particularly interested in investing locally here in the Seattle metro area.

Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?

I've never heard money/profit described as cute, so it's not important.The most important thing you mentioned, was the rent potential and ARV.