"Lender's" rent credit will only be $833 per month or 10K per year which equates to only 6% of gross rents at facility.

To keep that figure accurate remember to include any capital investments (such as new roofs, appliances or furnaces, etc.) on the total investment side of the equation.

I would think they'd have way too much liability to let me just do that and would want a whole lot of control, which would equate to really being their employee for a while.What am I missing?  

Why does borrowing factor into the equation of applying appreciation?

The average price of one of those homes equates to $55K which can be a deal breaker for some lenders.

There is really no wrong answer...if the numbers work on both properties (which is the MUST in the equation) then you have to choose which path makes the most sense for you.

To add to this equation, the profit on such home would be about 75-100k.

I know that is an important part of the equation and it is heavily dependent on the market and whether you are looking to buy or sell.

I am the CEO of Cardone Capital, international speaker, entrepreneur, author of The 10X Rule and creator of 21 best-selling business programs, and I own/operate seven privately held companies along with a $1.5 billion portfolio of multifamily properties which equates to 7,068 units. 

All in all, I see the BRRRR model having a larger risk/reward equation than we've seen in years past.