I find they could be covering up an unauthorized resident, property condition, or problem they fear they may be charged for......So it can compound a problem if you neglect these routine peeks in a unit.

Compounding interest is a beautiful thing. 

Old owners did a patch job but there is bowing of the brick and seemingly some concrete separation from the wall.

Mainly because without deep level knowledge those unknown little mistakes add up to big amounts of lost money ( a compounding effect ).The same holds true when when you are an expert in something in that you catch almost all the little things that can really eat into your success with an investment.

Maybe with a LTV of 60% of the ARV and 18% back interest compounded monthly?

Our floor installer levels the floor with a floor floating compound.

To me, it seems that the BRRRR strategy may be possible given the constraints of a day job but I'm not sure whether that would be wise when compared to dumping any savings into an index fund and letting compounding work over time.I think this site is awesome with regards to everyone's willingness to give advice and guidance and I know I'm just getting started when it comes to diving into the realm of RE investing.

I think this will also push me a bit more towards fixed rate debt (as @Brent Coombs suggested), although it's just hard to make that trade-off well given the levels, a 7/1 ARM saves a couple hundred bucks a month vs 30 fixed, which would go a long way to either paying down the principle or compounding that cash flow into additional properties...Thanks folks

However, if the tenant is a section 8 tenant, the complexity compounds and a bit trickier to accomplish this goal.I'm curious to see what the more seasoned investors and landlords have to say about this situation of yours!

Unfortunately that means the thing that will get us is the 'unknown unknown', the risk we don't even know exists.Einstein said that compound interest is the most powerful force in the world, I'd say that non-recourse loans are a very close second which is why investing in the US is so attractive to Canadians... and everyone else.BTW I think your VRBO investment(s) up at Whistler are great.Giovanni