And a good broker will be able to assess your property value in a comprehensive way, which alone could set you at ease knowing you are making the right decision whenever you need to pull the trigger.6) Do the mathEstimate renovation costs, if any, and closing costs when coming down to your ARV.

First off big thanks to @Joshua Dorkin, @Brandon Turner and the rest of the BP team and community, without the information I've received here I doubt I would've ever pulled the trigger.

I am not in a position to pull the trigger within hours.

If you find a deal like this I would still pull the trigger on it but just know that refinancing may not be possible for a while.Feel free to ask more questions if you need. 

If this would trigger recapture how would I calculate it?

Then just look at each deal knowing what your approximate HM costs will be before pulling the trigger. 

I feel like I'm at that spot right now, Teetering on the edge of doing something but being "fearful" of pulling the trigger. 

@Dan Heuschele, That's a very good point, because every time, I'm ready to pull the trigger on that house, I think about having to share it with strangers.

That way your funnel is bigger to find the right property.Next, always be ready to pull the trigger because you never know when they pop up.Lastly, try to hunt down the property yourself.

With that I did a lot of reading and research about it before pulling the trigger and one of the best pieces of advice I got was to keep your investments (at least starting off) close to home.