I also like the fact that you're budgeting for management even if your self managing (although I could be wrong on that assumption that you're self managing). 

Assuming the ARV and 3 month turnaround are accurate (big assumptions, mind you), this seems much better suited for a pure flip than BRRRR.Problem is after refinancing you're effectively breaking even with conservative expense forecasting.

You could easily be at a 70-80% vacancy rate and should therefore model your returns with more conservative assumptions so as to determine not only your base case, but also a "grey sky" and "blue sky" scenario.

You need to gather some income and expense assumptions, development cost estimates and terminal value.

To be more specific, assumptions below:Property Value: $180,000B or C Class Area Mortgage on the property of $135,000 (Either refinanced through BRRR or Retail Purchase Through Traditional Lending)Managed by property management companyNet Cash Flow: ??

To be more specific, assumptions below:Property Value: $100,000B or C Class Area Mortgage on the property of $75,000 (Either refinanced through BRRR or Retail Purchase Through Traditional Lending)Managed by property management companyNet Cash Flow: ??

To be more specific, assumptions below:Property Value: $180,000B or C Class Area Mortgage on the property of $135,000 (Either refinanced through BRRR or Retail Purchase Through Traditional Lending)Managed by property management companyNet Cash Flow: ??

I also asked him to have an actual conversation with our 1031 intermediary rather than emails subject to assumptions and misinterpretations.If I can't get the free lunch, at least I can minimize and defer!

While Missouri does have a "Warrant of Habitability" default assumption for rentals, it doesn't excuse the tenant from paying rent unless they follow a detailed process. 

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.