Strong rental markets with low vacancy rates are ideal for long-term holds, while areas with high ARV growth are great for flips.

Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

It would be ideal to chat with investors operating in the Midwest, but I welcome anyone's perspective on BRRRing from a considerable distance (plane flight away).Thanks!

Ideally I’d like to get to $10,000-$15,000.

Investing locally would be ideal for sure.  

So I get that "lag" almost every time, plus I deal with our corporate bank... so they always have that lag. 

And working for a contractor that does flips or rentals would be ideal.

Your name and credit would stay with the existing note, which you would keep paying on - ideally yourself with money you receive from the "buyer", because if they don't pay your credit is wrecked and your house is in foreclosure.If you search on here you'll see everyone and their brother looking to do Subto and it's a nightmare unless the buyer has the funds to pay the note off if/when the original lender figures out you don't occupy the property any more and are attempting to do what you want to do, since most loans are going to specify that performance.  

You can't go wrong with holding the property but again not ideal in your scenario

I've heard of people doing this, but you need to be rehabbing it enough to make it higher value so ideally you need to be purchasing something that needs some rehab so that you can increase the equity because otherwise you're not gonna have enough equity to pull out