The property needs A LOT of TLC, detailed out below.Purchase Price: $129,000.00Renovations: $63,120Monthly Rents: $1350.00 per unit, tenant also pays electric, sewer/waterI could certainly use some practice in estimating repair costs, so here are my assumptions for repairs that will be required based on the photos available on MLS.

The guy that I was originally going to hire as my new property manager for future tenants has offered to do a mortgage assumption.

The people making these loans get paid based on the assumption the loan will be in place for some years. 

My initial assumption was 25%. 

This is what I come up with base on the following assumptions:1. $40k repair2. 3% closing cost3. 50% Operating ExpenseThis is a template I use myself, it's not proven useful/accurate. also considering all the assumptions ...

Also, both a 401k and a primary residence both assume the economy will not be in a contraction when you go to retire - an assumption that has burned countless many people.I would focus on creating passive income before worrying about a primary residence.

Because the service animal is not actually living with the person who it is intended for, I was making my comments under the assumption this was more likely a "emotional support animal."

If you assume your BRRR property is in the same area appreciating at the same rate you are missing out on the benefits of leverage.There are a couple of wonky assumptions in here though.If you are really doing a BRRR I don't see where you are accounting for the "renovate" part of it.

I see that the general consensus leans toward an assumption that one must make 3x the rent regardless however, which is exactly what I had suspected.

If anyone would like to run their eyes over the attached report and poke holes in my assumptions I would appreciate it.