-Located near 2 major hospitals and 3 Universities -Original Rehab included 100% new bathroom, 100% new plumbing in the house, electrical updates, all new flooring, all new paint, and the addition of one new wall to create a "true" 3rd BR.

My hang up is, based on the location, how much I will be able to raise rents.

Are you stationed at a location that other military personnel come to go to military schools?

They already have relationships with trusted contractors, leasing agents, and some have property management in-house.BRRRR can be a good choice, but it all depends on how much time you have to dedicate to the project, and how far away you are located.

@Wayne Brooks agreed location of the property does change the outcome a lot.  

They are affordable, with a deep staff, two locations, great customer service and an attention to detail.

I have done done of my own research and found that the numbers here make sense if you get it in the right location.

Thanks for the advice @Jim Wilcox  The small multi family is located in Covington, Kentucky. 

Driving for dollars... drive around the neighborhood and look for homes that are vacant and use skip tracing services to locate the owner.

In CA specific with the massive amount of population that has left LA and Bay AREA and has moved into these foothills locations that 50 years ago the population was a fraction....