The conditions and concerns are different now...GDP is expected to be in recession territory for Q1 and Q2 2020 due to supply chain disruption, decline in exports, travel restrictions, and reduced consumer spending all from the virus.

Thanks Karl, this gives me the confidence to go and seek a loan now.

You have to be confident in your ability to determine if a property will make more money that it costs to own, and the amount of cash flow you desire is a personal decision for everyone. 

I am no expert by any means, but I felt pretty confident with my offer pending an inspection, Appraisel, etc...

Just making myself feel more confident in my rejection skills!  

I can see with my own eyes certain areas improving, demographics shifting, and speculate with confidence when it comes to value-adds.

Time is so valuable and if they don't know you professionally or have confidence that you will actually close on a deal, why would they devote their time to you?

The way I see it is if you can get the house for a price that enables you to fix the foundation then its not so bad.In my case I'm looking to buy, fix up, and hold for the time being, this might be different for you if you're trying to wholesale.This is my first property, but I'm confident in inspectors and my contract to get me out if it turns out to be worse than I thought.

Hi Omar,I don't think anyone is going to be able to give you a summary of the BRRRR strategy well enough to make you feel confident to move forward with your deal, you really need to educate yourself so that you feel comfortable. 

My point is, i'm confident the junior lien is crunching numbers to see if they want to protect their position and possibly bid at sale so, if you are planning to bid, be prepared for competition.