I'm gathering that as long as you have a "method" that can be backed up by supporting documentation your good. 

Pretty accurate from the plumbing aspect. 5k to replace cast iron piping to PVC was a big hit.

Updated electrical for 1st floor ($5k)That means all in, it was around $80k (down payment + closing + costs mentioned above) for a $605k purchase priceTo answer your potential questions: Yes, I did a lot of the repair myself except for the electrical, bathroom, and plumbing.

You also have portfolio/private lenders, seller-financing and other non-traditional methods once you reach that cap. 

I added sprinklers in the mechanical room, wirelessly interconnected smoke/co alarm (with hard wired power connections) in the basement bedroom, mechanical room, living room, staircase and 1 upstairs, development permit with the City of Calgary because the lot was zoned RC-1, building, plumbing and electrical permit for the renos.

Better yet and maybe even for more money see if there is a trade union apprentice school around you where you could learn plumbing and/or electrical and/or HVAC. 

I’m still a beginner, but I understand the language for the most part.Learning how to use the “Four Square Method” and determining ROIs was a great game bonus.  

I would think you would need an engineer to plan out the flood zone remediation method in order to get building permits approved. 

This is important because although you can refinance prior to that period they would base the numbers on the original purchase price plus verifiable repairs as opposed to the new appraised value (Estimated ARV) which kind of defeats the purpose of using the BRRRR method. 

The BRRRR method references getting money to buy the property initially either through cash or hard money, then rehabbing, renting, and refinancing.