I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.  

For instance, if it's a small portion and you indicated during initial intake/application that electrical is updated they wouldn't have any way of knowing. 

If you do not have a loan you would be very foolish to not have substantial liability insurance at a minimum.

What I think is virtually certain, property insurance in California is going to go up substantially over the next few years.  

I'm wondering how anyone does it in this area, or maybe I just have not been looking for long enough.I really would like to purchase in my area as it would be my first rental property, and I am most familiar with the northern VA area If this is not to be, I also am wondering what markets nearby would be better.I’m also in Fairfax County, and you’re absolutely right: Fairfax County and much of Northern VA are tough markets for cash flow, especially starting out without a substantial down payment.

This has freed up my income substantially from where I was working previously.

to BRRRR something, you need a goldilocks property - something distressed enough that it can be bought substantially below market, but not so distressed that it can't be repaired. 

Over the past decade, Columbus has attracted substantial investment from tech giants like Intel, Google, Amazon, and Facebook, which have collectively committed over $50 billion to developing data centers and semiconductor manufacturing facilities in the area.

  :) Yeah - I have an appraisal in hand for the property, that was completed just a couple of weeks ago, that is substantially higher than the asking price.

Main goal of All In One heloc or 1st Lien Position Heloc:  Lower your daily average balance.Main Drawback: Rates are substantially higher than 60% of current 1st mortgage balances.If you are mostly living paycheck to paycheck and your money leaves your account as soon as it comes in to pay bills, this is not for you.