@Brian Garrett This method would work better on absentee owners or investors who are at the end of their rope with out of state land lording.

I do the occasional flat-fee MLS listing for him (not turnkey though), and I have not seen any of his completed renovations, so I cannot speak to the quality of the work being done.

I expect to overpay given they are Turnkey, yet it is difficult to analyze the quality of a neighborhood from looking at Google Maps street view. 

I'm a Los Angeles native looking to invest in out of state income properties, and hopefully, build a portfolio of properties through the BRRRR method.

@Clarence Powell Start with a specific plan for your businessIdentify your farm areaGet a contract ready so that you're prepared to make offers on properties as soon as you find themStart MarketingPut together a buyers listRemain patient, methodical and consistent, it can take months to get your first deal, keep at it and you'll increase your chance of success

Consider what you do for work, and how far you would be driving to get to those locations. if you are working in LA, driving from Palm Desert daily could allow you to cash flow, but your quality of life can be destroyed.

this means, 2 mcdonald workers living together in yucca valley could easily pay $1200/mo for a quality rental.my homes have all increased 10-20% a year for 3 yrs straight - as the few quality inexpensive rentable homes that come up are fought over by investors, new home buyers, airbnb.a sewer assessment going into effect will add 100-150 to the monthly tax burden (along with a few other assessments in the works - school,fire) Bob Armstrong (a realtor in the area) creates a nice email newsletter each month with data/commentary.

Purchase another quality asset and put long term, low interest rate, debt on it. 

You still can but just keep in mind it's easier if you wait for a recession.I'm a big fan of both methods you mentioned.

I know BP has their own calculator and methods but what we do is just build in a 15% of gross rent multiplier that encompasses capEx, vacancy, deferred maintenance, etc.