Do a bit of digging, and you can find single-families in suburbs like Decatur or Meridianville that appreciate at rates above the statewide and nationwide average and hit the 1% rule at the same time.One caveat, though, is that most rentals in Huntsville proper probably aren’t going to deliver the cash flow you’re looking for.

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

Leasing, technology, interest rates, sustainability, AI, etc?

Death Rate: The death rate has been gradually increasing.

Using a CAP rate of 7%, the $16,000 becomes= $228,000 of added value. 

You get a Capitalization Rate (CAP Rate), which equals your annualized return by dividing the Net Operating Income (you had gross in your narrative) by the purchase price.

@Steven Catudalthe 'no cash flow on a BRRRR' is typically just because you are boosting the ARV and then taking out the maximum amount you can on the refinance, often using a DSCR loan with a higher rate. 

My question would be is a 6 cap the going rate in the area for that building.

We are BRRRRing it and we’re originally going to rent traditionally, however we decided to look into it as an Airbnb, and when we put in current loan rates which will be near or at 7% when we are ready, we’d only cash flow about $150 a month 😱, but as an Airbnb our projections are around $1,300 cash in our pockets monthly. 💰 At this point is a no brainer 🧠 and we know if it doesn’t work out or we don’t like doing it we can always revert to a traditional rental. 

You snowball plan has a very high success rate.