Read these books:Rich Dad Poor DadRichest Man in BabylonThink And Grow RichMany people fail because they don't start with the fundamentals, challenging their view of the world (philosophy), so they give up and say this REI thing is "not working".The 10k Seed Capital is great; however, many here on BP started in debt of 50k or more and are now crushing it. 

While I understand the idea behind, it seems like it will fail in execution.

You PM should be handling this, if they fail to transfer utilities and don’t correct it when informed the PM should be working to remove them, this likely won’t get better, only more expensive.

Without a good team, you are destined to fail even if on paper the numbers work.

Your calculator will be your best tool to use. right there it fails automatically.

Lastly, I think everyone is hoping that this will put the kibosh on that stupid rent control ballot initiative that failed last year.

That said, you would have to wonder about your liability if one of those systems did fail in the not too distant future. 

@Alex Speiser FYIhttps://www.biggerpockets.com/forums/12/topics/754299-low-appraisal-on-our-first-brrrDon't do what this person did ;) There could be forums dedicated to failed BRRRR if people were brave enough to fess up about screwing up deals...

Let's say the current tenant fails to pay rent and it takes you 60 days to evict.

We do so much of it for our business, generating deals, and future goals- then fail to plan how to keep as much as we're allowed per tax code.Hiring someone to do your taxes is one thing.