@Tom DeanIf you're set on the BRRRR strategy in the OKC area, properties under $100k are tough to find on the MLS, especially 1970 builds.

They all want to talk about their investments and you are there to listen.

We just acquired a duplex that (at closing) was supposed to need about $4K in mold remediation.

I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

Yes, it doesn't have to be one purchase. 

Acquired the property with cash (to compete with all-cash buyers at the time) and then refinanced 2-3 months post-close How did you add value to the deal?

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

I want to go for the lowest but I also want to make sure that I am appropriately protected.

When there's tenants already occupying the property, there's often times different leases that were signed among the tenants.Additionally, renting by room usually sees higher tenant turnover which in turn causes more work for the PM.Other challenges to consider:- Disputes/conflicts among tenants (different personalities if a tenant doesn't know the others prior)- Occupancy limits- Splitting utilities (what if someone uses more water?)

My goal for 2025 is to purchase an out of state rental to explore new markets!