@Jonny MorrisThis is how I approach BRRRR properties.Quick analysis:  Property must meet the 1% rule (rent to asking  price ratio)

He could survey a vacant lot where the proposed plant was to be built and using a slide ruler with a tape measure he could pinpoint within an inch the exact same location the licensed surveyors marked using their transits.  

You should do the same - achieve excellence in where you are at with a firm vision of where you are going.Matthew 25:21 "Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things"

Aaron Mazzrillo the 2% rule really does exist and some people get more than that.

s analysis might be tough on the property - but if you can put in an offer for that number and get it accepted it should be a good buy for you.The "simple" analysis for this would be to use the "2% rule". Rents

For rents around $500, there is a quick and dirty rule of thumb called the "2% rule" - rents should be 2% of acquisition costs.

Asking if IRR or CoC is better is like asking if a tape measure or ruler is better.

I realized what might be a better way.Finish rehab.Cash out refinance both homes the max they will give meUse my newly released FHA to buy a 3rd duplex to house hack with a low down payment.Use extra funds (lets say $200k in this example) to purchase 2 $100k homes in local, less expensive markets like Waco, Temple, where we can achieve a 1% rule rent.$2k earned in rentContinue to pay down the ATX duplexes, hopefully continue to earn appreciation on their large home values and simply refinance every time we have $120k+ in equity and use to buy $100k single family home in full in a better market.

Reading about the 70% rule, but am interested if this really works for some on here.  For an easy example I'm looking at a smaller home for a quick turn around that is asking $74,500.00  The after repair value is goin...

Based on it's current value ($189k), you won't be hitting the 1% rule (rents of $1700/month).