To me, debt isn't cash and if it can be leveraged, yet the project still cash flow, isn't that the definition of infinite cash on cash return?

Now if you have an infinite number of these houses and the time to flip.

There are infinite things you can invest in- but it's hard to beat real estate.

Let us know if we are missing anything.Your IRR is infinite.

I am aware there are infinitely creative ways of financing given enough time and effort, but I feel the options available to someone who has no steady income seem too risky and cut my margins for error more than I would like.

@Jon Quigley 10 is the max however it's not your ceiling for single family property if you have a loan officer that's knowledgeable about how investors structure their loans, your limit is pretty much infinite.

You can also obtain conventional or private financing with a TIC.BRRR isn't completely explain on the financing side, conventional loan cash out refis will drop or your LTV will drop as the number of properties you own goes up, it's not an infinite solution.

Assuming you have infinite and immediate access to deals where you can get a 21% return ($35K equity, $165K total cost) on your investment is dicey.  

B-A- neighborhoods ... the cash flow will be lower initially (under 10 CAP), but it will be obtainable and hold its value over time as well as infinitely fewer headaches.

Investing in apprecaiting markets will be much more difficult in the short term, but infinitely more profitable in the long term.