House is in excellent shape and needs, at most, interior paint.

If you would like to give some context as to the factors that you look at in priority order (more important factors vs. less important factors) that would be a value added conversation as well.Additionally if you would like to provide some flavor as to what kind of ranges you are seeing regarding re-performing 2nds and the factors that influence your buying decision, that would be excellent as well. 

Some things don't photograph all that well but if you have them repaired that will show. 

This is an excellent question for your CPA.

I know this an excellent deal, but my concern is locking up much more money than I originally anticipated which will severely push back the timeline to purchase my own home and it doesn’t give me the ability to scale/capitalize on future opportunities when they come up. 

It’s an excellent place to start, and can answer many of your questions.

The benefit to GR is you also have some excellent secondary markets to purchase cashflow (Lansing, Muskegon, Kalamazoo).

I mean when I do a BRRRR I go in and photograph everything in a clockwise manner starting with the outside of the house and then go to the inside and do the same, so I have complete pics of the whole house and then I can go home and create a list of repairs needed.

Yes, BIFI is an excellent choice, as Chris pointed out, but do what is right for you.

What a time we are living in. Just as we are emerging from the...