So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

It’s a cost, but it saves time and headaches.5.

Way better returns on the cost seg than you'd ever cash flow from an LTR. 

Bonus points if they’re used to working with investors or can help keep costs in check while maintaining quality.Cheers,Kevin I would say this about BRRRRR, especially as a newer investor. 

I would guess an older home might be more cost to insure?

And cost is not coming down.

So I would caution everyone to make sure the replacement cost for your improvements will realistically cover your actual replacement cost in the event of a total loss.

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

Determine cost to renovate. 

If you have a good FICO, a decent down payment and closing costs, go ahead an do the first one.