Other than that, it was no more onerous than any other loan application.

You don't want to be stuck with 2 properties that both need new windows or something goes wrong and then you have no more cash in the bank and now you have to liquidate. 

This is $3600/year, so to hit a 15% CoCR I'd have to invest no more than $24k. 

Yes, it is a college town.My original thought was to do college housing, but the city actually as a policy about no more than 3 unrelated adults living in one house.

This survey will take no more than 5 minutes. 

Short answer is for the BRRR strategy to work you need to have bought the deal in such a way that your purchase price, rehab costs and holding costs is no more than 70% ARV.  

No more waiting.

As a design professional but not a licensed architect I know that in Tennessee I can legally design any residential dwelling as long as it is no more than two units.

To put is simply - it's EXTREMELY easy to get around in the city.Another think to think about for Single Family properties is there is an ordinance that says no more than 3 non-related people can live in a house together.  

If there are any moral issues at all it is on the part of tenants withholding rent money and the government regulations encouraging the behaviour.I have no moral issue regarding how I, as a landlord, treat a non paying tenant.