I went with a simple, neutral laminate.

So, after way too much preamble, my question: Is it worth doing a BRRRR deal where, you put down 100% cash (by pulling it out of other properties, assuming I can figure that out) on a house for about $950k, renovate for $250k or so, refinance on a property now worth $1.4M but then basically just are cash flow neutral after?

It may just be that the seller wants too much and there is no solution but I was hoping investors with more experience than myself in this area could provide some insight into how they would value this and how much of a hit to cash flow would be acceptable in exchange for future potential.The details:4-unit purpose built building in an average residential areaCap rates for 1-4 unit properties range from 6-10% depending on quality, location, conforming vs non-conforming etc.Asking price $520k, dropped from original $550k and has been on market for a few monthsRents are ~$34,000 and should be ~$48,000Expenses (excluding maintenance) are ~$9,000 - This puts the asking price cap rate at ~4.7% (not including maintenance)- We estimate that at asking price it would be about -$260/month in cash flow and break even at a PP of ~$450k assuming our typical 10% of rent for maintenance- We estimate the building would be worth around $530k at market rentsWe were thinking the cash flow neutral price would be our best offer, but their indication was that they are looking for close to 500k. 

The goal is to be cash neutral which should be very reasonable given the budget I put together.I am expecting to have to drop 5-10k into the house to make it cash neutral.

if you are that close in possibly losing everything, then just keep working until you have more of a DP saved, to create a cash flow neutral situation. 

Pick a neutral earth tone and stick with it.  

The ordinance now moves on to the City Council with a neutral recommendation from the planning commission (due to the tied vote). 

Our cash-flow from the previous house/now a rental is enough to cover the increase in our mortgage, so it was a cash-neutral move, but now we have another house in our portfolio gaining value. 

It's obviously not an easy formula to weigh, but since you seem to be a bit more neutral about the situation, I guess you (your agent) should be weighing the market and your property, and incremental drops may be the agent's best strategy at the moment. 

Think of it this way:  to make up for the $400 negative cashflow per month, you need to gain twice that per month in profit when you sell just to get back to neutral.