Agreed, looks like the 2 properties I've got accepted offers on would be in the $50-75 range each, really not a huge deal and if they keep cleaning up the city I think its well worth it.

I use the BRRRR method, so my cash gets stuck until the rehab and refinance is complete.

At closing, the title company files a lien on the property for the LLC which is based on the deed filed at the county courthouse6) pay the contractor $15k in cash to rehab the property 7) get a tenant placed after rehab is completed8) go to a bank to do a "rate and term refinance", which can be done at 85% of the ARV because it is considered a refinance. 8) the individual refinances out of the $65k loan with the LLC into a mortgage with the bank for $76,500 (85% of the $90k ARV) 9) you now have a rental property with a tenant paying your monthly mortgage and you make $11,500 on the deal ($76,500 mortgage less the $65k LLC loan)The LLC method seems more complicated because you have to create the LLC and file the deed, but it seems less risky because you are not subject to the lesser of a) 75% of the ARV or b) the "gross amount due from buyer". 

So we bought a fixer, improved it, moved and instead of selling, we rented the last one out, and by this slower method we collected rental doors.  

My strategy  will focus on Buy and Holds in C to B neighborhoods using the BRRRR method. 

On longer term holds you could use the same capital and then refinance with bank debt once you've created enough value to payoff the higher cost debt.I used this method to BRRR (and some flips) my first several smaller mfam deals.All the best! 

I also like to pass on utilities to the tenants so the only expense that might grow would be insurance.Alternatively, I'm considering doing short term rental on two of the units and renting out one of the units to a family member who would help me turn over the two other units between bookings (they will keep the cleaning fee).

We paid a cleaning fee - for professional maid service after we left.

. :( However, I'm willing to expand into other states in order to start doing this method. 

The disadvantage is that you can't clean the outside of the upper pane very easily unless you are on a ladder.