You can even ask something not true and see if they correct your. 

To me, I’d rather have the job done correctly the use a cheap contractor that does half a job, then run around trying to find another to fix the mess.

I looked at a couple of houses in Honolulu that were basically tear downs and if I remember correctly, they were in the $1 million range.

If spreadsheets, perhaps different tabs or another method.  

If looking at this correctly, it will place us essentially into the "financial freedom" area we've been striving for (but we will still keep our day jobs).  

I am not sure where I heard that or if it's correct but figured it might be an issue if it is. 

We did have it measured by a professional before it was purchased as we had a feeling the square footage wasn't reflecting correctly in the tax records and both of the other two appraisals reflect that.

Currently I am working as an engineer in Northern Utah and would look to get into house flipping and using the brrrr method for rental properties here in Utah or southern Idaho.

Once the economy goes into “correction” mode lending and terms may not do so good ...so make hay while the sun shines and take action .

When I see a cap rate that high, I tend to be suspicious that it wasn't calculated correctly.