So its not a true 0 or 100% vacancy risk, more like 0% or 20%. 

True story. 

If it sounds to good to be true it most likely is.  

I installed them right before he moved in, so that's not true at allllll 

@Anders Nordberg Congrats on the first property and creating a true asset.

This forum is mainly for BRRRR method techniques and questions.  

To me over leveraged means you have big car notes  your CC are close to or are maxed out and your only making minimum payments you go buy furniture and you finance it.. you buy real estate with the least amount possible down at market prices.And your cash reserves would only last you a few months to service all the debt.So no retail debt pay cash for anything you consume or use  OTHER Than a vehicle and decent amount of TRUE equity in your real estate no FO equity IE refi appraisal but you know the home would never ever sell for that on the open market. bascially follow Dave Ramsy and @Steve Vaughan  over the years on BP has written some really good comments on how to build an empire while balancing family life and fiscal safety..  

So if you find something that a bank is willing to lend on, it will likely be tougher to boost the ARV enough to make it a true BRRRR.2 - if you finance up front AND refi, you pay financing / closing costs twice. 

When will you start to cash flow and what assumptions have to hold true for that to happen?

The Boone / Blowing Rock / Banner Elk, NC area is popular for short term rentals, since there are 4 true seasons and events and activities in each making it a year-around vacation spot.