Even with cancelled PMI, my monthly mortgage/tax payment goes up to $1650, eating most of my cash flow.The rental would likely break even for the near future and preserve equity, barring a recession. 

That really eats into profit for multiple years.

I've been eating up Podcast like a mad man.

I typically see about a 8% CoC during a deal, but some pay better and some don't pay - don't think of it as eat'in money if you like to eat regularly.  

the reason I want to partner with a contractor is being new to fix and flip, it'd give them more incentive to do better work and not just disappear, be cost conscious, focus on "our" property. 

Implementing unique design cues and/or a small solar system could do just that (especially in areas where consumers are more conscious of social/environment/green issues).

Maybe he'll offer to eat the markup or something.  

Rents will decline, but you gotta take the good with the bad - here in areas like Summerville and Chs. we have been seeing significant increases in rent, and we've been eating that up for 8 years now.

This strategy allows for "infinite" ROI because now, you have no money in the property but it is automatically giving you cashflow; assuming the higher mortgage payments do not eat into your income too much.This is a very basic example and does not cover all the bases, but does give some insight into the power of BRRRR investing.

.: cable TV, going out to eat (a huge one for us), needless driving; being more deliberate, and the like).