I call them "get up to speed" costs.Break-even purchase price vs loan costs including PM, vac, and cap rate work out (for me) @ $240K with 25% down, @ $225k with 20% down, @ $210k with 15% down.If I consider $5k for get up to speed costs (and that the roof is good), that still means I break even in 2 years +/-. 

I'm rebuilding a cheap motorcycle to try to get my speed fix.

Thanks for the feedback.The floor has a speed bump looking hill running from one wall to the next.

It helps bring  you up to speed quicker. 

Typically, I BRRRR with ARV loans through a local bank for our investment properties, so I'm not up to speed on traditional mortgage rates.

I have sceen and known about people who can cross the busiest high speed highways without getting creamed by a fast moving vehicle but just because there are others that do it does not mean I am going to try it. 

"the attractions" because it's 10-20 miles SSW of what to us is "real" Orlando) are outside of the city proper and are in Orange County (non-City of Orlando annexed), Osceola Co, and to a far lesser extent Lake and even Polk Cos. so be sure that you're up to speed on any local developments that might limit renting out the whole property and not living there.

You'll increase in speed as you get better managing your properties, setting rent rates, finding deals and learning the systems. 

Make sure your insurance and licensing is up to speed prior to taking on a client.Best of luck! 

I usually burn through them at 2x speed, but I'll back up and slow them down for something that sounds particularly enlightening.