Land doesn’t depreciate, and while buildings require maintenance, they usually gain value as markets grow, demand increases, and inflation takes its toll.Real estate investors benefit from a significant tax write-off based on the concept that properties lose value over time, even as their market value skyrockets.

. :) Jokes aside, I think that Bitcoin and Crypto is a great concept and totally admire the spirit behind them.

1) Check with state building dept to see if they have a valid builder's license and if any negative issues with it. - PRO TIP: many builders lose their license then create new company in name of wife or other relative/friend.2) Check Better Business Bureau, but don't assume all the complaints are legit. - If there area MANY, then that is a problem.

On the negative side you will need to show how you will use the property to generate sufficient income.

The cap rates seem to be inconsistent and not aligning with really anything...3% to 5% on older buildings with higher risk, not great tenants, in not great areas and not a lot of cash flow or even negative cash flow based on current listed price.  

@Seth RoseI would look at the approach from a revenue mindset, not a discount mindset (which is where the BRRR concept was born).Firstly, I would like to point out that properties with great cash flow potential and deep equity positions aren't just floating around the MLS.

However, this introduces a level of risk to the equation because now, as has been mentioned, instead of going to $0, you could end up negative big time! 

Negatives of this purchase: home does not cash flow or break even if I decide to move out of the top portion.

People getting laid off in similar companies like Coca-Cola, JC Penney and Sears will post the same negative reviews about a company and I completely understand that POV.

It depends upon how negative you think you're gonna go.I wish you luck.