Memphis is a market where BRRRR is possible, but with rates going up again, it's not a great idea.

  $500 off up front is a one time discount, the $40/month lower is the gift (to the tenant) that keeps on giving. 

The truth is, over the last few years, many of these people are barely cashflowing at all and the default rate with the banks on this product is skyrocketing.

I found out the failure rate is 95%. 

BRRRR is not a great strategy in the current market due to the mortgage rates so it's not as applicable as many think from reading older posts or books about how easy it is.

interest rates and prices are basically too high right now."

The amount of equity I call pull is less than the cash I have but not significantly less.When doing this analysis it struck me that it may not be worth using a HELOC for the simple fact that the interest rate is ~9%* while the funds in my high yield account are only yielding ~5%*.

My agent is currently finding best rates with Travelers.   

Most 1-4 unit real estate investors are using DSCR loans right now for any buy and holds while flippers lean on higher leverage bridge/fix and flip loan options with higher interest rates.

I do need a property that is not very expensive, which is why I have been looking into Clevland due to their low selling prices and high appreciation rates.