Here is a stab at what I think you are asking:A BRRRR will have a rehab component, which will add value to the property. 

Take some of your own properties that have a value-add component and look at the numbers.

Define your goals so that you can narrow down your strategy. 

What you can do is get a "major components only inspection" if you want to save some money. 

It would be best to define what it is that you're willing to offer a PML.

@Charles Osugo, it’s technically a high yield checking, but you can always put more than $10K in there to use the excess as an operating account and the $10K padding as the “savings” component.  

Don't totally shun the idea of a small single-family home in an up-and-coming Denver neighborhood or even a condo and having no rental component.

@Eli Katz define what you mean by inexpensive and what kind of work?

I should work on defining my strategy, analyze deals that fit that strategy, and attack when I find one that hits the numbers.  

Continue your learning, clearly define your goals2.