The method you mentioned (BRRRR) is operating on the calculated risk that the property's value will appreciate enough (after renovations) that you can pull out a comfortable amount of cash and use towards your next purchase... all while the potential rental income from the newly updated property going towards paying down your loan balance. 

Prices are high vis-a-vis incomes unless you're a Bay Area commuter.

If your all-in cost to build for below market value and you are able to place quality tenants, then you should be able to leverage the completed project in a way that allows you to pull out some of your initial investment tax deferred to fund future investments while keeping the rental income and future appreciation.I am a CPA by day and advise many developers on tax strategies.

If the ground rent isn't registered, the annual rent, etc. cannot be collected or enforced and there's no point even worrying about it.If the ground rent is registered, you can determine the exact amount to redeem it -- it's a simple calculation based upon the date of the original lease and the annual rent.

It also provides the income or arbitrage without the risk or cost to furnish.

.#3 I would look at the average/median incomes in the zip where you are being pitched and see if that supports rent.#4 I see a lot of these deals and talk with lots of investors....going to giant investor meeting tonight in fact. 

hey there are definitely options out there for upto 80% financing cashout DSCR no income no doc if the rent is covering the mortgage . what is the loan amount ? 

Can I still count it as income?

I had an applicant on Zillow for a property with an income less than the rent amount.

It's a good move to keep things separate – set up a business checking account for your rental income and expenses, and maybe a savings account for unexpected stuff or future upgrades.