A tenant now enjoys these enhancements at $1400/month, showcasing the property’s increased value.

There are a lot of ways to crash and burn, so increasing the odds of succeeding long term should be your highest priority. you can always sell your local assets once you're comfortable managing rentals and ready for a market that better-suits your criteria. btw, kudos for being self-aware of your limitations.

the key to a BRRRR, whether it's going to be an STR or LTR, is this:distress.you need to find a significantly distressed property, such that you can increase the ARV via the rehab. 

Disallowed losses under wash sale rules increase the cost basis of replacement securities, potentially reducing future taxable gains.This post does not create a CPA-Client relationship.

When I run the numbers based on these rents, the property operates at a negative cash flow.If I increase the studio's rent to $1,400 per month, the property becomes cash-flow positive.

It is amazing how many times I have seen the cash flow represented as rent - PITI and to compound the issue they did not realize the ADU would increase their property tax.   

I own 4 two/three flats bought between 2013 and 2020 in Forest Park, Illinois, at low interest rates and prices in 200000's  They cash flow nicely and prices have increased a lot. 

My spreadsheet also includes FMV of every property so I can monitor appreciation, year over year comparison of tax & insurance increases, current rent & last increase & last amount, etc.

.- If interest rates remain high, this is further upward pressure on rents in the near-term, as the alternative to renting - buying a home with a mortgage, is expensive - this should increase demand for rentals. - Rents are also a function of supply - 2024 saw the most new construction of multifamily units in American history (nearly 575,000 estimated 2024 deliveries of new multifamily inventory), and 2025, while not a record setting year, will see deliveries top 500,000 again - a huge supply increase. 

Also im pretty sure he promotes section 8 rentals and gives you a story with rose colored glasses.