If I price it according the cap rate method, I come up with 122000 Bank's highest bid is 70000I intend to BRRR this property, but not certain if I'm looking at a deal.  72000 purchase price (foreclosures in this area that sell to 3rd parties typically go for approxmately assessed value)Repairs 25000Buying cost: 500evictions/cash for keys: 1500Initial cash outlays: 99000Annual revenue: 22500Taxes: 1417Insurance:  1500?

@David Montore, if there is an existing mortgage on the home, one creative financing method would be to  consider a seller finance contract for deed with wrap financing where you sell it for 10% or so higher than market,  get a nice down payment and make the monthly payments higher than existing, with higher interest.

Has anyone had any experience with this method?

Dave Ramsey offers good solid advise for the average middle class slob who can’t control himself but his approach is so conservative in this day and age that you won’t make much for fear of risk and you will save till your dead using his methods . 

@Jordan Moorhead more so I would ideally still like to find a MFH to house hack and to start my RE journey... but I just kind of want to get an idea from someone who’s had multiple SFH (bonus if they’ve completed BRRRR method) in the area and just pick their brain.

He was actually interested in doing a 2nd mortgage financing method.

To over simplify, one I call the California method (buy high and sell higher) and the Texas method (buy for positive cash flow).  

Inspection deadline is tomorrow.Thanks again everyone :)___For Context, boiler details:Approximate capacity: 105,000 BTU/hrEfficiency: ConventionalExhaust venting method: Natural draftApproximate age: 38 years 39 years 40 years 41 years Near end of life expectancy Typical life expectancy: Boiler (cast iron) 25 to 50 years Main fuel shut off at:  MeterFailure probability: Medium Supply temperature: 180°F The following issues were noted at the time of the inspection: 1.

I’m looking to use the BRRRR method for my first real estate investment deal, but I’m feeling overwhelmed on choosing the right right property to do this on.

If you aren't getting success then step back and reevaluate your methods.