There is alot of play and I will need to meet the asking price in my market if not more. 

What if a large judgment or lien suddenly comes into play?

On Robert Kiyosaki's Cashflow game we would always ask when it was someone's turn to pick a card: "Small deal or big deal?"

I’m not sure that’s a good play any which way you slice it in north tulsa... don’t get me wrong I’m a fan of housing up there but when you can buy a house for $15-25 a sqft buying lots (unless included with the house) don’t make sense.

The game is on ;-)

So, I'm new to the game, and I don't really know what I should be doing when it comes to actually executing the BRRRR method, its one thing to know it and study it, but another to actually do it.

I am not a CPA nor do I play one on TV:)Seriously this is should be run pas your tax professional

It's a numbers game and it takes some persistence because you have to find so many leads to filter down to the ones you get to talk to and filter those until you get an actual deal here and there.

Your example clearly explains how to view a property and some variables that come into play and what to watch for.

the city of oakland plays hardball with the variances but if you're willing to spend some money and jump thru some hoops you just might get lucky.