It is rather difficult to make BRRRRs pencil out right now, so you should budget to leave some capital in the deal on the refinance. 

Learn about the Net Operating Income (NOI) and Capitalization Rate (Cap Rate)—these are essential to analyzing the potential profitability of a property.Return on Investment (ROI): There are different ways to calculate ROI in real estate, such as looking at your total return after a sale or assessing your rental income versus initial investment.

You'll get a feel for the age of the neighborhoods, the vitality of the commercial buildings, the ease of location, the closeness to jobs.The markets you're describing are more linear, and usually have lower capital appreciation.

-Creates a solid foundation for passive income, allowing you to reinvest future cash flow into other opportunities without as much financial risk.Cons:-Ties up a large amount of capital that could potentially be used to generate higher returns elsewhere (like another STR or other investments).

I am most comfortable with long-term rentals, but I would like to try a flip or two to build my capital.

Depending on comfort and cash, it might be a viable option as you can build equity and then sell without having capital gains, assuming it's your primary residence and you've lived there for 2 years.

For your GA LLC, filing correctly is crucial since you're based in CA and may need to handle multi-state tax filings.A real estate tax accountant can guide you on deducting renovation costs (likely capitalized rather than expensed for a flip), managing depreciation for investment properties, and tracking expenses related to your flip.

Spread your capital over 2 or 3 deals, 2 or 3 operators.

Quote from @Derek Stevens: @Michael Baum My initial question was about determining a sale price not raising capital.

I’m getting ready to make my next move in 2025 and I’m contemplating on staying here and buying a multi family property as an investment out of state (only an hour away) which would be a lot less capital and have a lot more land lord friendly laws or buy another multifamily as a primary residence locally and hack that property I’m single and live alone.