This is the fundamental problem I have with Wall Street who takes too much fees off the hard-working efforts of the middle class.

Fundamentally the deal sounds good, but I don't see anything that breaks down the expenses and your expense ratio seems on the lower side although could be right and that's what you really need to dive into.

You can easily find short term financing with a Hard or Private Money Lender since you easily have skin in the game.There are two fundamental elements to the BRRRR strategy.  

The PM aspect is the most important, as you need someone who you trust to stand by your for 10+ years. ( As an FYI, if you go turnkey, they should do their PM work in-house, so there isn't some other third party you need to vet - the TK company should be responsible for every piece of the investment.)When it comes to OOS investing, having a solid team working for you is so much more valuable than having the perfect market with the perfect fundamentals.

Paul Allen is spot on with emotional control being important I’m still early in my investment path with just 1 deal, but I think sticking to these 3 simple criteria will work best for me:1) something I understand 2) something I can place a value on based on fundamentals (sorry Bitcoin)3) something I can buy at a deep discount to that valueObviously that makes it really tough to find deals in todays market, but (1) when I do find one, it is something I can easily sleep on and (2) it naturally forces me to slow my investment pace in today’s hot market, and pick up my pace as prices come down (whenever that begins to happen).

I suppose though that if deals are being source based on absolute fundamentals and the consideration is that path of progress appreciation will only be icing on the cake it's not a specifically more risky strategy.

I have a good understanding of the fundamentals but am still learning and looking to specify exactly what area to get into.  

If you're willing to put in that type of effort you will find success.If you put in 10 offers from 100 deals and do not get a single one accepted - at that point I would suggest you revisit your formulas and fundamentals and possible change your strategy.

I'd recommend checking out this one: https://www.udemy.com/become-a-real-estate-investor-learn-the-fundamentals/ It has a lot to help get you started out with finding seed capital, finding a business partner, renovations, and the full REI lifecycle.

I like Indianapolis and Kansas City due to good cash flow combined with strong economic and demographic fundamentals.