Leveraging your ability to claim residency and get the best rates on properties can really supercharge your real estate portfolio.

Just from the basic research, I have done and the listening to the BP podcast I was able to determine that real estate investing is definitely a long term planning strategy and when making decisions you need to think a could years down the road, not just the immediate future.

Have a licensed electrician evaluate everything to determine safety/costs to upgrade.

I'm trying to determine what would make this a good BRRRR - looks like I'd either need the rent to be higher or my monthly expenses to be lower to cash flow.

You should always ask for a "Reserve Study" to determine what the HOA is responsible for and how much it cost to make replacement or repairs to said items. 

The advantages of building new smaller properties is they can be built quicker and leased up to full occupancy faster than larger properties, they are a little easier to get approval in certain areas and site work, stormwater and parking development costs can be exponentially lower per unit or per sqft as compared to larger properties requiring significant site improvements.You need to work the numbers backwards starting with estimated construction and development costs, calculate estimated GPR, back out standard operating cost assumptions of 45%, which is average for most new construction buildings of this size, to get to the NOI to determine if the project works.

To get back to your systems with ability to scale, unfortunately that is something I have found you can only do with some knowledge and experience. 

You're passive in this respect, and your ability to take losses is limited.2.

However, the problem I had with cozy had was my ability to scale with it.

Golf.When you flip, the first "expense" you always include/calculate is your profit.When you buy a rental, the first thing you always include/calculate is your cash flow.When you do anything in life that leads to the ability to enjoy that life, the first thing you do is "enjoy that life".What am I saying?