Sometimes it can be a gradual increase and other times it can be very sudden.

The traveling got cut short due to family reasons, but I never went back to a W2, I cut living expenses to next to nothing, the house hack helped that, and then I took it one property at a time to gradually expand my income and have kept my expenses about the same.

That at least buys you time with the gradual increase to react and plan.  

We have three decades of our own operating data in several different markets to build projected NOI for this property,But we have not done a distressed physical rehab before.I have been given a price for the complex, and a price for the rehab, and a financing package from the bank which has taken the complex from its owner that includes funding for the rehab costs, and good LTV.The complex is operational but is over 40% vacant, and is the classic story of an owner who gradually drained their property, eventually lacking the money to do unit turns.What I would like to do is bring in an independent team to walk the property unit by unit and build out a detailed rehab budget - a team without the conflict of interest of being hired by the bank who owns the property, or being brought in by my existing management firm.Should I hire tradesmen with specific skills (electrical, drywall, plumbing, roofing, etc.) and pay them each a fee to walk the property?

I work as a technician but I've been gradually investing in Bergen County rentals the past 5 yrs.

The upside is that it would gain about $6500 in principal in the first year and more gradually as the years go on.

Those losses are gradually phased out after $100k and disappear at $150k.

I am living proof. 5%-20% below current fair market value - This is gradually changing and the market is very hot right now.

I like the idea of using the BRRRR strategy because it allows you to progress gradually.

Shawn, are you planning just gradually purchasing SFRs or are you looking to move more into the small commercial MFR?