Cashflow is extremely important if you don't have income from other sources or are operating with a slim reserve fund.

Looking for properties in my area but the pickings are slim.

If you buy a property for $250K and can only rent it for $1,800/month, the likelihood that you will see positive cash flow if slim and you will be banking on appreciation.Vacancy Rates and Time on Market.

The chances of that working out are very very very slim, unless the lien is small and the equity is large.

They don't have a website and their Facebook page looks slim.  

Example:Let's say you get the low end of your ARV of $230,000Then you Refinance based on 75% LTV = $172,500We'll use an 4% APR/30 mortgage your monthly payments would be $824Rental income is $1,500Expenses are $750 (50% rule)NOI = $750$750 - $824 = - $74 Cash Flow Even if your expenses do not add up to 50% you might still be working with slim margins.Did you include Holding and Closing costs in your BRRRR analysis?

So far it has been slim pickings for loans but I like the challenge!!!!!

There needs to be enough margin for it to be worth a damn and most homes in the class C neighborhoods would yield slim to no margins. 

I've been searching on loopnet.com but residential properties are slim pickings.

@Sean Morrison $365/mo is a pretty slim margin.