If i am holding onto this property for a definite period of time, I also will want to calculate the IRR to see how it stacks up with other potential investments that I have run into.

He's already lost $80,000 in potential income and they could easily tie him up for double that in a heavily regulated market like California.Successful landlords charge market rent or close to it.

Cash flowing at 5% down was possible about 3 years ago—but that ship may have since sailed.Now, you’re left with two options: you can either pony up more cash per deal, or you can potentially look out of state for markets with more favorable rent-to-price ratios.Or…you can wait for rates to decline, but I don’t know how much a 100 or 150 basis point rate cut in the next year will really move the needle.That said, some firms (usually new construction companies, turnkey providers, etc.) will enter into forward commitments with lenders at institutional rates and then pass cost interest rate savings onto end buyers to entice them to purchase a property.

I've found a potential tenant that would love to do a lease option, or rent it with the option to buy at the end. 

Where are the places that I can meet someone who I can potentially work with?

I do not have loads of cash at hand, I have a few connections which I could potentially pool some cash together with.

Flipping houses in the current real estate climate with higher interest rates impacting long-term rentals offers exciting possibilities.Given the strong seller's market in the Dallas-Fort Worth metroplex, including Garland, selling your flipped property could yield a quick turnaround and potentially higher profits.

@Seth RoseI would look at the approach from a revenue mindset, not a discount mindset (which is where the BRRR concept was born).Firstly, I would like to point out that properties with great cash flow potential and deep equity positions aren't just floating around the MLS.

Potentially, I may still take a complete loss on it. 

If its General Electric it is another. family owned company and i can time the payout of the bonus