I would love to find a cash flowing asset.

It's clear you have a specific goal in mind (achieving $5k cash flow) and a well-defined strategy to reach it (BRRRR).

Factor in landlord friendly laws, 4 lowest property taxes that don't reassess on the sale and the straight cash flow is not as important.

Are you after cash flow or appreciation, or both?

@Michael MilesThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

Do you file a separate return for that entity or does it flow through to your Schedule C.

Needed some major updates which I have been doing slowly but will be a great cash flowing property to help propel my investing journey forward.I also own a commercial property in the Wheat Ridge area that I run a business out of.

I don't know your market well, but in most or all desirable places to live, cash flow has to be created right now.

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

It currently breaks even, but I'm hopeful the cash flow will improve over time!