Or high cost,high risk, suspect, copper plumbing? 

But I suspect you are referring to purchases where there IS still an Operator involved afterwards, getting ongoing payments after all, right?

I suspect your Realtor is setting you up to THINK you got a great buy if "magically", your Offer was to be accepted.With BRRRR, you should be aiming for at least 30% equity after the first B.R.R., so that by the Refi stage, you should be able to cash out all your original investment, for the final R (Repeat), completing the loop.It is also a mistake to try to smooth the figures over, such as calculating gross return BEFORE accounting for the rehab costs.

I have a lot of newbie questions and suspect I will ask more than one that will have those with experience rolling their eyes. :).  

Someone tell me what I'm not seeing..Be BlessedA solid deal.is a solid deal in any neighborhood, but I suspect it's not a good deal in that neighborhood.If landlords don't want to buy in that neighborhood, and similar houses are selling for 30-40 that would disqualify it from being a solid deal. 

I don't know what the limit will be for me, but I suspect that if/when I get to 100 units I will probably turn everything over to a PM company and just relax at that point. 

I suspected it was at the end of a quarter and sales needed to close for the AM to get a bonus.  

I would suspect that using a misdemeanor traffic conviction or something similar could get one into hot water. 

So you can get away with it until you are reported but it is a risk and the city may shut you down.I suspect if you are buying in a lower end area of the city you can probably get away with it for a long time as the neighbors probably don't care as much.If you try and operate an illegal suite in the 'fancy' parts of town like East Hill I suspect the neighbors will be calling the city very quick to complain.

One encouraging bit of news is that Brooklyn made RealtyTrac's best SFR markets for 2016 (I suspect because of rental growth and not gross yield, which is ~11% below the best performer: Flint Michigan).