It's a goal that never ends, unlike having a set $ # goal.It treats increasing assets & decreasing debts more equally & it's not overly aggressive which could encourage over leveraging & return chasing.I know hitting this goal at a minimum, when dealing with large numbers, over 20-30-40 years will get me well past a defined/limited FI number needed for "standard" retirement. 

My standard advice is to start with a 150-175k duplex in a B/C that meets at least the 1% rule upon purchase and has upside in rents with cosmetic rehab (but is occupied as is at a lower rent).

These (not the counters) will probably last 50-100 years and could last forever.Home Depot/Menards/Lowes cabs (off-the-shelf oak-faced w/ particle board sides and backs) would have been about $1500-$1800 unfinished, uninstalled, without any soft-close stuff, and I would have had to fit stock sizes in a non-standard space.

On one hand, having the mortgage interest deduction against the rental income seems like a positive (but then closing costs seem to negate that benefit.)

@Travis CawthorneThese are all good questions to ask your CPA.Regarding the BRRRR method - you are ultimately renting it out so it is a "buy and hold" investment.You will be entitled to customary deductions that buy and hold investors are entitled to - depreciation, mortgage interest, real estate taxes, insurance, etcRegarding how much you have to set aside is how much money you earn through the rental, your tax rates and if your other sources of income withhold enough.

Another concern is, it also seems impossible to get a straight answer on whether LIDs are deductible for rental properties; it is clear you cannot deduct them as a property tax if it's a primary residence, not sure about on an investment.

This ultimately comes from the short term Bond Market where they were trading bonds on a hour by hour basis and it was easier to calculate not including leap years, and months that have more of less than 30 days so they just standardized 30 days a month times 12.

That has been the biggest tax deduction that I missed starting out. 

As long as you understand that you are going into partnership with your landlord and he is receiving compensation above the standard rent then anything can be worked out.

In fact, more interest expenses there are, more tax deductions you get so its better.