(Father in-law was an insurance adjuster)

Decide on how you will manage and adjust your P/L estimates accordingly.e. 

So lets say 10Y remains at 4 for the next 10 years, we would see more volatility in main street real economy because they are not fully adjusted to higher interest economy environment YET.t

BRRRR is a capital intensive strategy.

We are always concerned with ‘risk adjusted’ return, rather than pure LOI.  

The only adjustments I made were adding a couple additional rows of data at the very bottom of each page to track what I paid in principal each month, and what my net cash flow after that was.

Most of the clients, they will also work 9-5 but there will some that don't and you need to have contingency plans ready for those.Also, make sure to describe how intense those first years will be to your significant other, so they know what's to come. 

I am definitely not pro adjustable rate interest financing.A newbie investor may not see very much flexibility in some lenders,  like someone who has a larger portfolio might be able to accomplish.The reason I mentioned both together is the lender is basically a partner in the deal- a senior partner in a way.

If it were sold through normal real estate brokerage firms, we would have to pay 6% commission, therefore I deducted 6% from the appraised value to arrive at an adjusted value  of $436,160.   

You can't speak to lender or adjuster.