I've found that the best areas for the investors I have worked with on BRRRR properties are areas like Center Point, Fultondale, Gardendale, and Pinson areas.These areas are solid and aren't in warzones like Fairfield or Tarrant but will also produce you cash flow and equity unlike cities like Hoover or Vestavia.

I immediately recognized that the listing agent/property manager had the current rent well below market & the asking price massively wrong.

The reality is that imposing expensive and time-consuming sprinkler installation requirements will drive property owners to either scale back necessary renovations or avoid permits altogether.Currently, when owners propose substantial renovations, they are often informed that their projects will require sprinkler systems, which can cost around $45,000 for a typical three-decker.

@Marc DeLeonibus Hey Marc, I did not end up purchasing the property.

I have been going through this thought process recently running some numbers to on a few investment properties for my wife and I.

Charlotte, NC professional property manager here!

Nevertheless, if the RAD investors  actually had loans  collateralized against property they would be in a much better position.

Please continue sharing your stories.I'm curious what neighborhoods in Philly you have rental property in and what great neighborhoods/zip would you recommend for rental properties. 

I live in a small town in eastern Arizona, about 7000 people, and we have a pretty serious shortage of rental properties.

(FWIW,$8K on just the compressor seem excessive.)Otherwise, unless your contract with your GC says they will provide 24/7 surveillance, or you can prove the AC was never installed, you own the problem.If the property has been vacant for more than 30 days, most policies won't cover vandalism unless you have added a Builders Risk Addendum.