Netting 5% on a deal that I turned in 60-90 days gave me annualized returns on capital of >20%, which fit my business model.

Buying with cash also allows investors to buy heavily distressed assets that would not otherwise qualify to residential or commercial financing.The con involved in paying cash is you greatly limit your buying power.

In fact, every time I've encountered a scenario where AO is a good fit, it's someone that could easily get hard money anyways, this is just going to be at a far far better rate/points combo.

Buying a BRRRR generally involves more time, energy, and risk.

If you want to recover all your up-front cash or want a substantially higher return, you're going to have to work for it, probably involving some rehab.

I know that banks want to see reported taxable income and I don’t want to cause any red flags or have IRS get involved.

Of course this is all subjective to the individual and not one size fits all. 

I'm hoping to regain momentum by getting more involved here on the forums and attending local meetups to see what other investors are doing around me. 

Today, I'll take the worst piece of house you've ever seen ... if the price is right and the location fits my needs.

There is work involved to get it to a habitable condition.What price should I start with to offer the bank?