Auction buying (real auctions, not sales disguised to look like it’s in auction mode) can be successful for investors who invest in multiple auctioned properties over time so that each property represents a small percentage of the overall portfolio of properties purchased at different auctions.  

I can’t see how to BRRRR effectively with these properties.

I'm super curious if anyone else has encountered this issue...We are RE investors in Denver - we've got 3 investment properties (or 5 doors).

Cold called this property owner who wants $150K for this 2 bedroom, 1 bathroom 928 square foot home. 

Look at the potential rental income and whether it will cover your costs, including property taxes and maintenance.Taxes.

At least 2-3 times each week, I get a referral or lead for someone wanting to buy an investment property with 5% down that cashflows $23.00/month with an insurance estimate that is half of what's realistic.

I'm not sure what the path to begin looks like, but I've been researching about different approaches, specifically multi family properties and House hacking.

The best way to have a reliable tenant in your property is to:Buy a property that attracts a tenant segment with a high concentration of reliable people.Work with a property manager who can consistently select reliable tenants.

Purchase price: $285,000 Cash invested: $135,000 Side by side 2-family properties (4 units in total), which needed either updating or a full build out.

This is the primary reason your property has is not a good brrrr.