While I would have built $150,000 in equity, the cash flow simply doesn’t work.Now, let’s compare this to the market conditions when BRRRR was highly promoted (pre-2020).Interest Rate: 4.75%Monthly Payment: $3,057/monthRent: $3,600/monthIn this scenario, I’d be making over $500/month with $23,000 left in the deal, resulting in a gross 26% cash-on-cash return—an excellent deal.As you can see, rates and prices play a critical role in the viability of the BRRRR strategy.

A good manager will handle everything from marketing to maintenance and tenant screening, saving you time and stress.Vendors and LandscapingBuilding a team of dependable vendors—like landscaping companies, contractors, and insurance agents—is critical.

Local market knowledge is absolutely critical, and it helps to work with someone who really understands the landscape and its nuances.As others have mentioned, it’s a broad question that’s tough to answer succinctly, but I hope this provides some clarity!

You're correct that getting every detail involved right from the start is critical!

I think he started getting burned out.

@Cole Bossert I think @Sarah Kensinger and others have touched on the biggest qualities, especially communication.

Except almost everyone seemed to think the guy was crazy.   

I went from barely breaking even to walking away with a very comfortable profit.This experience taught me two critical lessons:Never give up when the situation looks bleak.

Most of the buyers are just regular folks looking for a home, so they are not at all thinking about cap rates. 

@Kyle Westerman I think you're wise to wait and see where this goes.