I look for cashflow to service the debt, repairs, cap ex, taxes, and insurance while the equity grows, my taxes are decreased, and rents are increased to make more cashflow. 

I am a newbie in this realm and looking forward to learning all I can in this endeavor of becoming financially independent.

@Greg StrunakA good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

They also want a priority lien on the property.It sounds like you are looking for someone to fund your down payment, I would be looking for an equity partner over debt as nobody likes to lend money in insecure positions, especially when a borrower lacks skin in the game.How much are you planning to come in with yourself?

Please let me know the financial implications. 

While many gurus glorify the strategies they’re selling through courses or books, methods like BRRRR aren’t easy and can put you in a tough financial spot if you’re not careful.

This is a picture was taken 2 days ago by my contractor in front of my property.So long story short Derek, there are more than just financial returns as to why people invest.  

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

On the business management side, I've invested roughly $10k into the systems for financial and operations through courses and consultants.A great Facebook group I'd recommend Remodelers Community -- I know it says remodelers but this group has a resource called the "remodelers vault" where members have pitched in their resources like contracts, cash flow trackers, QC checklists and more that are invaluable starting out as a residential GCBest of luck, you got this

This thought led me into studying about becoming financially free and building generational wealth.