I have perfect credit (800 fico) and cash to back me up (200k) however I do not want to throw all my eggs into one basket so I am trying to get financing from banks.

Upon approval after these inspections, the owner then gets Sheetrock installed, throws up some paint, install cabinets and then the various trades come in and perform their finish work.

This is a real concern that ordinary people--BP's target audience--have that experienced investors with a healthy diversified portfolio and significant reserves may not need to worry about as much.I don't think that using operational cashflow as the core metric on BP is an error or a misunderstanding, I think it is a conscious choice due to it being a simple and safe metric that minimizes the likelihood of newbie investors experiencing overwhelm or major loss early in their investment careers and going back to "watching dancing with the stars". 

So try to find your comps with same bedrooms and bathrooms if possible and think about your audience.

Currently in NYC but moving to ATX likely this summer.So a big hi from me and thanks in advance for any advice that you throw my way...

That’s a fallacy that renting is ‘throwing your money away and making the landlord rich.’

For example I would not name an LLC something like Mike Lee Real Estate, LLC obviously- that kind of just throws you out there.    

because now I gotta rent somewhere else (= throwing away money.

Or are there exceptions that will lead you to throw the 1% Rule out the window?

I am interested in hearing from the BP Audience what the Pros and Cons are for C Class Apartment Buildings.