Knowing how cheap (or expensive) in finishes you have to go is huge.  

Oftentimes people get confused whether they should capitalize a purchase or expense it.

My local market (Honolulu) is expensive and limited fund, I chose to BRRRR out-of-state. 

., P&L), tracking expenses and income, rental listings, lease signing, etc. 

In my opinion, I would just plan to reduce your living expenses so you can save up more for your next deal, it doesn't necessarily have to cash flow for it to be a good deal

But it also costs money so if you're not doing any deals, it can start feeling expensive. 

I would try to network with other MTR landlords in the area to determine best course of action  Yea, I would agree that the rate wouldn't be on par as an MTR that is furnished, however I do remember from my renter days that the shorter duration leases were more expensive per month than the yearly leases. 

I understand home designs are pretty expensive, and cannot just be applied to any lot/existing neighborhood.

What big expenses are you going to have coming up soon?

You'll offset your own living expenses, you can do it for very little down and you'll get some experience landlording and understanding how the tax savings and depreciation work.