At 8% that takes $112 per month off your cash flow for a negative $2 in cash flow.Captured EquityIf the house is really worth $190K and you can buy it for $165K with a $40K down payment, then you have a 62% equity gain from the start.Given the above scenarios, this doesn't look like a cash flow play.  

@Janett McWilliams, I can say as a general rule that you will have better terms and more money to be accessed if you individually refi each property individually unless you have > 10 properties, usually >20. 

There usually isn't enough to pay off both.

No firsthand experience, but every time I've seen this question come up the responses indicate that for a few small units LLC will not protect you better than simply adding an umbrella policy to your insurance while being more complicated and expensive to maintain.Also many snags to consider such as banks not likely to finance residential property to the name of an LLC, transferring to an LLC later can trigger a due on sale clause in your mortgage, if you mix personal funds and LLC funds to pay for something you can negate all legal protections.

., so far below fair market price at retail that the repairs can be covered as well as your profit and the flipper's profit in its eventual retail sale -- or 'buy-and-hold-to-rent-out'er's profit before they would expect to get it rented -- plus the title search, closing, and any tax costs related to your purchase from the seller (usually split somehow) - and finally, the title search, closing, and any tax cost split with whoever buys it from you.Now, that someone could be you (you do trust you and your repair-estimate abilities, don't you?)

Property management is usually around 8%-10% of total rents.  

What positives and negatives have other people found while pursuing the BRRRR strategy in small towns?

@AL DURANIt's usually on company letterhead.

The material they cover may not be what you are focusing on but if you send questions to the teacher they usually try to cover it during the next days webex.

usually if you go to hudzu or the hud.gov website you can find r.e. agents recommended for whatever particular housing market. fishtown is a subdivision of Philly.