Having no debt in a deal eliminates a lot of unknowns(risk).

95% occupied Purchase price is 3MRehab costs unknown at this time but likely around 150kI have no experience with projects of this size.

I'd suggest not noting things like "stabbed coach with a knife" and instead "7" long cut in left cushion of couch" and "4 sq ft area of carpet under den window coated in an unknown substance that stained the carpet". 

Further, I think it is going to be even more surprising when it creates new and unknown issues that they didn't originally foresee.

Almost all builders can do the development work for you, but that's a unknown cost and nobody can give you an accurate quote without studying the site.

Are you willing to risk the unknown (tenant moves, time your property will be vacant, repairs or clean up to  get the place marketed again, you get a new tenant who isn't as good etc.)Obviously you can't nor shouldn't be held hostage by the fear of your tenant leaving and having to face the inevitable.

I've reached out to about 50,000 contacts during this period but a few potential sellers a came across seem to already have realtors.My current approach involves using Deal Machine to identify potential properties by zip code, focusing on those with unknown sale dates or built dates before 2000.

If you commit to an out of state BRRRR, just know that you are likely committing to a long, expensive, stressful story with a lot of unknowns.

This may limit your showings to some extent, since now you will need to get two agents together simultaneously, but you do not have to show your home through unknown agents without your agent being present. 

While it looks good on a spreadsheet, there are too many unknowns to answer properly.