Also, keeping an eye on zoning changes or upcoming developments can help you get ahead of the curve.Would love to hear more about your experiences too—what areas are you currently focusing on?

In your ideal world who pays the buyers agent in that first time home buyers niche in Minneapolis? 

Since my current strategy is BRRRR, I'm looking for a location where I can implement it successfully within my budget.I’d prefer to target the best neighborhoods or subdivisions I can afford, ideally with favorable eviction laws and other key factors.That said, I started wondering if there might be a better strategy to achieve my goals.

Thanks Brett, it is my understanding that by buying a property of equal or greater value it would allow for maximizing the tax deferral, which is ideal, but not a legal requirement? 

A HELOC on your duplex or home offers flexible, low-interest financing ideal for BRRRR, with potential tax-deductible interest if used for property expenses.

We had an accounting system once that necessitated doing this - not ideal, but it keeps the assets and liabilities straight and AP is just an accrual until you pay the bill.

Getting Fair deals on labor and repairs comes from developing win/win relationships with contractors.

Real estate wealth is built through long term price appreciation, property becomes (usually) more valuable over time, especially if purchased in areas that have either gone through development or redevelopment.  

So I would encourage you to adjust your expectations starting out and develop the discipline of saving money so that every month your net worth is higher than the month before.

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.