If it's simply cash flow--irrespective of hard assets-- then you're better off buying some form of debt.

I do not have a lender right now, and I will need the 12-month rent history as well as various metrics on the property such as insurance quote (which needs property information in order to obtain), existing debt, and purchase price (which would be established while making offers).

Eliminate debt, establish a budget, and save.

It's slick and can cut down on bad debt as well as reconciliation time after moveout. 

Eliminate debt, establish a budget, and save.

Personal background: Married with no kids, 100% debt free, live a rather tame lifestyle and don't spend large amounts of money, two newer vehicles (2020 & 2024) so no vehicle purchases expected for the next 10 years. 

My buy box is a home 5 years or newer, A or B-rated schools in the 200K-400K range that will appreciate over time with someone paying down my debt.

The deals I underwrite have been cash flowing right up until I put debt service on them, even with taking a break even amount in a refi. 

If you don't have the downpayment, go make some cash so that you do, either through saving from your normal income or some real estate investing efforts.Your point on debt paydown, although true, is not relevant to the argument of BRRR vs. traditional rental.

If this is done, then 75% of the gross rent for your current primary can be used to offset the mortgage debt of that property to 0.