The best asset you can have is knowledge, you really won't have that until you learn real estate instead of systems or niche approaches of dealing in real estate, that's not an education, it's simply information. :) 

Last year one of our neighbors approached us saying his friends are looking for a place to stay and they can look after the property and pay $600 rent.

Dave, you are not learning how to value real estate in the investing podcasts, videos, books or other materials unless appraisal techniques are taught and I'd really be surprised if they mention or go past mentioning the three approaches to value.The computations to find the ARV are out there, but that doesn't give you the assessment of the valuation in your market. 

The only reason appraisers must go there isv to estimate the income approach used with the market and cost approach to value. 

At DoHardMoney we do things a little different than most Hard Money Lenders and as a result we’ve disrupted things in a way that competitors feel the need to raise doubts and concerns about our systematic approach and our business model.

I found that approach to work much better.

Being a landlord yourself Jaseem, would you mind sharing with me your approach to aquiring you first property?

But I'd be counting on refinancing asap to pay that off, cash out and continue with the BRRRR approach.

Your best approach is to probably read through the posts there and search for specific questions you might have. 

What is your approach?