$150k purchase and rehab ONLY is going to buy you either a warzone property you can make the nicest house on the block, or an up-and-coming neighborhood property with no room to make any meaningful improvements.If you could clarify your intentions on the investment it would be helpful to anyone trying to provide some neighborhood information.

As a seller, if I sell something as is, there are only two possible outcomes. 1) They walk and I keep a meaningful amount of earnest money or 2) They buy with zero further negotiations.

This is by far the most significant benefit and can meaningfully enhance the total return to investors in these projects who are patient enough to hold for this length of time.

My primary goal here is to contribute to this community by sharing knowledge and engaging in meaningful discussions.

@Xan Thomas I think having a list of questions or information you want to extract from the homeowner is great as long as you arent just peppering them with questions.

I found a great way to quickly make the grades more meaningful is to dig into the areas you already know. 

With this amount of windows, savings could be meaningful.

Other than the "pre-qualification process" please feel free to share any other meaningful differences between these two types of transactions.Thanks SO much in advance!

You're leaving out vacancy, rent loss, concessions, maintenance, utilities, capital expenses, accounting costs, legal costs, etc.In total, expect your NOI to be about 50% of your gross market rents...in other words, cut your yield in half...Also note that when it comes to rental real estate, it's more common to refer to "cash-on-cash return" as opposed to yield, as it's more meaningful given that leverage is often involved...

I am not claiming there are not many that have better BRRRR processes than I have, but I would hope/think that it is few that have better processes that have not done at least a half dozen BRRRR.My point is you may be able to extract all your investment via BRRRR (I have even if it required an assist from appreciation), but doing a large number of BRRRR in a year will not be easy and likely require significant experience.