You have now encountered one of the biggest problems doing a BRRR...the Dead End.Try your local Credit Union. 

Make a copy of the letter, certified sticker, and the receipt from the post office and put it in a file for the tenant.  

If you are patient you will eventually encounter the motivated seller and recognize how much easier they are to negotiate with.

For example, as homeowners, we have encountered leaks twice now in two areas and two houses in five years.

This will leave you with $2,040 in annual free cash to cover repairs, maintenance, vacancies and other variables you may encounter.   

so a 450k new build makes us 45 to 80k sometimes we do better and make 20%.. but its volume of course. and VERY predictable our budgets rarely change as much as 5k per house.. unlike rehabs and all the surprises you encounter. 

"this is the guidelines of the bank"I purchased all the properties with cash, and I don't have any loans or mortgages.. can someone encounter in the same situation?

Surround yourself with other successful investors who know how to solve the problems you’ll inevitably encounter. 5) Have fun!

Those are your C-/D property areas that might cash flow but you'll have drug addicts and squatters (encountered them on house showings there..). 

Like, I know when I am buying a car, if the craigslist add says something like....1987 Volkswagen bus with 80,000 original miles....and its been listed for months...that it’s probably not worth going to even look at cause if it was a good deal it wouldn’t have been sitting on the market for that long....is there anything like that that you encounter when you are looking for deals?