Better to make that mistake, and buy another deal, than to not bought the deal.  

The sponsor of the deal typically is the one purchasing the property into their REIT. 

Or just sell it at a loss… I need some guidance here, I know very little about real estate investing other than I know I’ll be losing money after maintenance and paying a property manager.

You already know the answer to that.

Ask me how I know?   

easy to build, rent, refinance repeat. might not be your market. look at the underwriting model. we underwrite every deal not only with fresh comparable but market economics change. land costs go up or down, construction costs go up or down, design modifications improve the property, comp sets can get more favorable or less favorable.

Dave Meyer shared an informative video today [How to Find Your Perfect First Rental Property (The “Buy Box”)], outlining helpful structure for you to add clarity for your deal.

@John LasherI don't know your exact situation. 

I’d recommend connecting with local property managers and agents as soon as possible—agents can help you identify deals that fit your BRRRR criteria, and property managers can give insight into rental demand and market rents.

Offer to do his inspections for free in exchange for some education on how to find, analyze, and fund deals.