I’m interested in doing long term rentals using the BRRRR strategy, but curious to learn what others are doing.It’s gonna be hard if not impossible to get the margin to brrrr pretty much anywhere in the region, would recommend more turn key & house hack. 

Still, Peoria, and likely basically every other Midwest city, beats inflation by a very healthy margin.

I guess you had to know someone to not be relegated to the alumni group (which is where the marginally successful or non-action takers were sent). 

When it is an 18K house (listed for 49K) and I am making $410 want me to "take a bit of a cut to make the margins worth it".

We did one smart thing--we financed with long-term debt and we used low leverage (60% +/-) so we have a wide margin of safety and no threat of a loan maturity until 2031, so we have plenty of time to ride this out until the next market cycle. 

Other dscr refis put me at a higher monthly.Appraised Value $700,000.00Sales Price $680,000.00Loan Amount $544,000.00Payment $3,966.67TERMSTue In 480Interest Rate 8.750 % Interest Only Months 120Total Payment (PITI) $4,832.78APR % 9.065 % Margin % Index % Floor RateFloor VerbiageConvertible: NoPREPAY: YES1.

Tons of competition for these and margins after cap/ex can be little to nothing.

The rate is the 1-month LIBOR + the margin of 3.75%.

Plus I found out they made $75k margin, once I got the title recorded and saw the purchase price on record.  

I Rather have unit empty than place a marginal tenant.