After that experience, we saw buy and hold real estate as the tried and true method of building wealth relatively passively, so we set the goal to buy 2 properties (2–4 units) per year and for the most part have stuck to that plan, and it’s worked out well.4) Worst life/business moment what did you do after?

Nothing new here....just the old Monopoly method of sell 4 houses/buy one hotel.

After compiling the list of property management companies, I sent an "Interview" worksheet to all the property managements with very specific questions, to gauge response time, response methods, and attention to detail of responses.

Hey BRRRR enthusiasts, If you identify a property (through the MLS or any other method) and want to run the numbers on the BRRRR calculator just to get a ballpark estimate if this property is worthwhile to pursue (visit in person, bring appraiser in, contractor in, etc), how do you estimate ARV and rehab costs?

If they have interest in being the bank, we discuss further.A regular PSA is submitted like normal with a method of payment or SF addendum.

And that's usually how the BRRRR method works.  

We have been doing a lot of reading and preparing to jump in on our first deals which we hope to purchase our first investment property in the next few months using the BRRR method.

So you withdraw $200k, you pay $68k in taxes. 

Keep in mind, this "do it yourself" method is far from foolproof. 

@Dakota Coburn I think you and the boys are going to have to take 401k loans, or hardship withdrawals and climb out of this mess.