So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

@Jay Hinrichs 100% these can work differently depending on your state laws.

Ran the numbers through two different spreadsheets and am very aware of how much we'll pay to the PM.

I know it's not necessarily clad in stone but things are certainly different. 

Of course, you're in FL and I'm in NY so there's a world of difference.  

If you like help structuring this deal differently to give you more leverage, let me know, I've worked with new investors on game plans and seen others start with 90% LTV on their very first deal.

What you've done in the past is no longer working, so what are you going to do differently going forward?

FWIWI use tenantalert.com  They used to be different name. 

Educating yourself on different strategies and networking with experienced investors can also provide valuable insights.

I was able to fund a brrrr deal using 0% interest rate business credit cards ($95k across different cards), I didn't have to deal with lenders and their high interest rates or their draw request process to access renovation funds.