We have not yet reached our full cashflow or market value potential, and likely will not for another year (as most tenants are now in 1y leases expiring again in Dec), but we are in amazing shape with this value-add process.”For context, the ‘day one’ true net cashflow for this property was about $800/mo, and the full true net cashflow potential with market rents is just over $6,000/mo.

The reason it's a 2 way street is that, once the seller goes under contract with the buyer in NC, the seller cannot back out of the contract--but the buyer can terminate the agreement for "any reason or no reason" at any point during the due diligence period.

Now that regulations have been implemented that is not as true. 

I see this happen all the time.lI love my true vacation rentals, but the bulk of my wealth is in LTR houses for the reasons mentioned above.

More specifically this investor, who had $120,000 cash on hand wanted my opinion on whether he should fund the acquisition and renovation and complete one home at a time or use financing for the acquisition and renovation and by his estimation complete up to three properties at a time (with reasonable reserves) then refinance the properties upon completion to complete the BRRRR process.

His reason being if he did this for every private buyer he'd have 1000s on his insurance.

If this is true for your deal, then you should probably take it.

The reason investors locally do not touch new builds anymore is simple - they don't cash flow at all. 

I wouldn’t tear it out and Sheetrock unless there was a cataclysmic failure in one room or one wall for some reason.

Of course when you look downtown the home prices get much higher, however, there is a historically redlined area, that is still very close to downtown, and just because it's on the west side of the freeway and houses are less taken care of, you see homes for less.Developers are quickly snatching up properties because of this reason and because recent zoning laws have done away with single family zoning, so I'm feeling a sense of urgency to get into a home in this very specific neighborhood.I'm not a super personable guy and feel strange knocking on doors, so I started digging into delinquent taxes.