A few other methods cost some money but is usually just throwing away small amounts at a time. 

Jamie and Allen are spot on, as usual. :)I would add "Is there an ideal avatar that you are looking to serve" to the mix. 

This means that every year, your IRR (Internal Rate of Return) will increase.4) In an appreciation heavy market like San Diego, the IRR is going to be the best way to calculate your earnings as cash flow is fairly low relative to initial costs (down-payment, closing costs, carry costs while placing tenants)5) To calculate your IRR, you want to use this formula: (Appreciation + loan pay down +/- Net rents)/ down- payment.you can include the Closing Costs, and carry costs, but I usually do not.

In either case use the contract to create some built in relief - a longer than usual closing period or due diligence period, or finance contingency.  

Have an owner's closet, where you lock up your extra inventory so the guests can't use it. 

Quote from @Austin Brummett: I wouldn't do anything right now except continue to save and learn, because you are likely moving soon.Lenders usually want to see two years of employment history, so you won't qualify for a loan any time soon.

Usually, the confidence comes from more reps (seeing more homes and being more of an asset hunter not a spreadsheet warrior) and going to local meetups so you can meet all the other people nearby who are doing what you can't get yourself to do.Ok Elizabeth, Ready for it? 

Your main issues will be eggress, as usual in a basement.

Follow all safety requirements your Insurance Company plus city and county require.This usually includes childproof access and alarms.

For your first BRRRR, plan for extra in your rehab budget—unexpected costs happen.