While BRRRR sounds great, I think right now for the most part in the DFW area it is pretty tough. 

Only done a couple but they were pretty good.

@Jack Mi: my first impression is anyone that is buying a deal at a 4.5% going-in cap rate with 7% interest rate is anything by conservative.Now, there are so many details missing that it is impossible to give any true thoughts.The things I like:No up front fees, so less motivation to simply transact10% Co-invest is pretty good80/20 (assuming there is no second hurdle) is fairly good.Things that give me pause, based on what is actually presented:Going-in cap rate is very slim.  

Its hard work finding the deals but once they get a pipeline going it works pretty good for them.

I do like the idea of house-hacking, but I'm pretty rooted in LA at the moment.

Also, pretty much every time someone moves out I put someone else in at a higher rent! 

And in all cases this for us is a combination of our amazinb cleaners and handymen.We have found most guests are pretty understanding, and if it's something that impacts their stay we will give them a gift card for breakfast or dinner with an amount that reflects the amount of the inconvienience.True emergencies are fire, flood, or blood.Hope that helps!

We purchased a property, signed contract for a 45-day SoW (cosmetic rehab, add AC) and after about 30 days it's been radio silence.We have been pretty patient and now at 60-days past closing we've engaged another local PM who is going to be re-keying, assessing rehab status and taking over from here.I think similar to OP there's nothing particularly nefarious or shady going on here, but the follow-through and ability to land a deal is significantly lacking with this team.

I have a client who wrangled with this question in particular and we were able to get it all sorted out pretty quickly.

The lack of them on listings for homes about $500K is pretty astonishing, and a lot of rentals they are non-existent.