Network with local investors, undertake extensive due diligence, and develop a clear exit strategy.

It requires careful planning and diligent execution.

You are best off to raise the rent and give the tenant the option to stay.Also, I hear a lot on here that "rents should be", "the potential rents are"... make sure that you do your due diligence when calculating potential rents because most new owner OVER estimate them.

Clearly there's a lot more ROI and work for a BRRRR.After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. 

Note that I do not put a lot of time into due diligence until the "contract to hold" meeting, when they put some skin in the game.At the "contract to hold" meeting, I collect an amount equal to one month's rent.

We always had working dogs and they do require more diligence depending on their reactivity.

I am half expecting something to come up in the legal or building due diligence that kills the deal! 

Many will have a disclaimer stating that the information cannot be relied upon and buyers must confirm all information via their own due diligence. 2.

please just perform your own due diligence. 

You have to do diligence, most people pushback on that.