Renting at FMV allows you to deduct mortgage interest, property taxes, repairs, HOA fees, and depreciation against your W-2 income, potentially reducing your overall tax liability.

For flips, calculate the after-repair value (ARV) and subtract purchase, rehab, holding, and selling costs.Pay attention to location, rental demand, and the property’s condition.

The best deal I can find today is one that you buy cash, invest a rehab and when you pull out 75% of your ARV you leave maybe a small amount of money in the deal and you break even (BEFORE DISCOUNTING FOR VACANCY, REPAIRS, etc) Yes that means you leave like 10-25k in the deal and your payment becomes $3000/m and your rent is $3000 a month or slightly less.This is for my local market and for Class B or higher RE. 

So repairs are done at a fair price the same day/night.

Mine rented in less than 15 days.)All in all, that gives me $140 a month for vacancy, CapEx, and repairs.

Perhaps, they can get out earlier such as July so you have time to do the necessary repairs so you only have one month of vacancy.

Assume break even cash flow while rented which includes a generous $600/mo repair fund. 

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

You can save a lot on costs if you do many repairs yourself.Look into hard money lenders or private lenders for the initial purchase and rehab.Connect with wholesalers, agents specializing in investment properties, and other BRRRR investors to find deals and learn more.

There are ups and downs with any property and there will always be variables with tenants, rents, repairs etc.