This analysis is taking into account how the property will perform once I have moved out and filled the empty unit. 

EIDL funds cannot be used for physical repairs, expansion of physical facilities, acquisition of fixed assets, bonuses, owner distributions (non-performance related) or refinancing existing debt." 

As I understand it, part of the BRRR strategy is that the rehab you perform permits you to raise the rent. 

That way, you can see how the property performed during the last major downturn.

The 2% rule may work on paper and spreadsheets, HOWEVER, if you are in a c class or lower area surrounded by even lower-end properties, that 'extra' cash flow can evaporate with lower quality tenants, more repairs, higher turnover, slow or no-pay occupants, etc.The trick is to get a deal where you have a good neighborhood, good schools, pay a reasonable price, and make sure you can 'value-add' to boost your returns.

I recently had a colleague send me the Multifamily and Commercial Real Estate Performance Metrics report by Moody's Analytics for the first quarter of 2020 (dated May 14, 2020).

Hi, I am currently looking to perform a BRRRR in the Baltimore area.

To align yourself more with your investors, I recommend doing a performance based metric approach when taking into account the fees (Other than Acquisition Fee) that is paid to by the sponsor.For Property Management Companies, it astounds me that so many GPs believe that once they get a deal over the closing hurdle, they can relax and feel like everything will go smoothly because the Property Management Company managing the asset WRONG!!!!!

And frankly, my “first” deal isn’t performing well.

What if they do not perform or are too expensive?