As others have mentioned, Vancouver is very expensive and difficult to find cashflow. 

Cutting our losses and selling was difficult, but it was the best option given our financial woes.I’d love to hear from others—has anyone else faced something this unexpected during a BRRRR or flip?

At that time, i will have the knowledge and network to expand and build my portfolio at an increasing speed and then it will be part of my growing pains for my business.I will most likely have that CPA do my returns for the real estate and then have my Tax Accountant still do my Personal, helps with Checks and Balance and cost savings.Do you have cost segregation, or anything like that on any of your properties?  

It's difficult to see how a tenant will be after screened and signing a lease.

If either you or the investors are not highly experienced, this system is very very difficult to slow the first couple flips profitable. 

Market might be competitive but there is angles to stand out depending on what you are comfortable and able to handle, such as waiving an appraisal contingency, limitng inspection rights and time frames, closing time frames, allowing seller to stay-post closing, taking on difficult tenants, buying properties that might need repairs, etc.

I have heard that CA is very competitive and very difficult to find deals in.

Once you go above ~$120,000 in Detroit you're going to have a hard time cash flowing, although rents have moved a bit higher and we still underwrite our deals pretty conservatively on that end.All that said, it has gotten more difficult to find deals that work.

It's about balancing your portfolio and not putting all your eggs in one basket. 

It's a balance of trusting my PM's and managing my PMs.