If you're looking for all the differences between the 6 types of renovation loans (Limited 203k, Standard 203k, Homestyle, ChoiceRenovation, VA, and USDA), you're best to use the internet or have a 1-2 hour conversation/meeting with me or an experienced renovation lender. 

You need to constantly hunt for deeply discounted properties, compete with experienced investors, and deal with unpredictable sellers and cash buyers.

@Tony Thomas  Points, discount or buy down are all the same thing, and that thing is simply pre-paid interest.

It will be the same cost to modify an internet plan you found as though I came up with it from scratch.

Long story short, the simplest way to look at this is to add a 0.5% or 0.55% to your FHA rate and then compare that to a Conventional option (note rate + PMI rate) priced with 1.75 discount points.

Quote from @Sam Kahl: Conventional wisdom is that keeping great tenants at a discount is better than not, however, being under by $600-$1,000 is a LOT.

Find Brandon Turner anywhere on the internet for information on it.  

I say you are VERY wrong.In my area older renovated houses demand top dollar on rents and I can find distressed properties or motivated sellers so I can buy at huge discounts for cash.I do not have constant repairs as I fix them up correctly after I buy them.House values are based on comps.

I have reserves, but would prefer not to put all of that in right away and hold some money for unexpected expenses.For context, my current monthly housing expenses are ~1250$ including rent, utilities, internet etc in a decent area with a short daily commute.

It’s harder to BRRRR in the Tulsa area now due interest rates, you definitely have to buy at a great discount in order to be all in low enough toget all of your money out and the rents have to be high enough to still cash flow after all expenses (PITI, Mgmt, Vac’s, Rep/Maint, CapEx, HOAs, Util).Based on being “all in” $120K in order to BRRRR and still cash flow at least $300 mo:$120K cash out amount - at 7%/30 yr ($150K+ ARV)PI = $800 mo + Taxes $150 + Ins $150 = $1100mo PITIRENT would have to be at least $2000 mo- $1100 PITI- $200 mgmt (even if self mng, it’s exp for time)- $200 vacancies- $200 Rep/Maint & CapEx= $300 mo cash flow.