The way I was able to purchase my 2nd and 3rd property is extracting cash flow from the 1st and with additional savings I had from working my job at the time.

Also, if the deal is 20% cheaper do to it being a 'fixer' then it's likely you'll have to put in 20% into it to extract that value.

In my opinion, house-hacking:1) Helps you build up equity via rent payments (value you will be able to extract when you sell your home)2) Provides you with more free cash per month (since you aren't covering the mortgage by yourself - ideally you will live for free or live for cheap)3) Gives you some experience of dealing with tenants and all of the challenges associated with that in (what I consider to be) a lower risk environment.

I am a busy professional and simply do not have the time to put in the necessary amount of time in order to extract maximum profit from a buy and hold BRRR-type strategy and yet I still want a piece of the real estate action. 

This is probably not the response your looking for but......I was at a seminar on extracting benefits from corporations and there was a discussion of the correct or best structure, for example, C corp, LLC, S corp, Sole Proprietor, Partnership.

We have done a few BRRRR and our experience is that without an assist from market appreciation, it is real difficult to extract all of the investment due to both low LTV and very conservative/low refi appraisals.  

@Michael Noto is correct in suggesting to get better tenants in you'll benefit from extracting the bad ones.  

I believe I can extract about $180,000 of equity in a cash out refinance, allowing me to buy another $533,000 of real estate.  

I finance after a rehab and extract as much of the equity as the loan will permit. 

The lender's going extract a pound of flesh in the form of a significant credit hit and possible deficiency judgments.