I just can't pass up the chance to build something brand new for the cost of what some of the renovations to pre existing inventory I have acquired needed.I am confident that once I am able to scale, this will be a very lucrative strategy when applied with discipline and forethought.As always, I welcome your input, BP!

Your plan of investing in 2-4 unit buildings in SD is a great strategy and I applaud you for your "numbers first" perspective (very few of the newer investors I come across figure out this mentality as quickly as you have appeared to).In regard to your question about the best way for someone without a RE license to access the MLS in SD; I think Sandicor's 'Client Connect' site will be your best option.

You might want to consider off market strategies also.

I'm bad about learning and not doing.I've also seen strategies where people buy downtrodden homes, fix them up, refinance, and then take out a loan on the appreciation, and buy another home.  

Hi Tim Hsu - Oakley is literally right next door to me.

@Allen Fletcher is right on in his assessment of the actual tax being dependent on past use (actually 500K tax free is the top exclusion if you're married and have lived in the property for 2 out of the last 5 years) and future strategy (depending on your path you could exempt all or part of the tax in a 1031 exchange).Your accountant paints the current picture better than anyone.

Hey BP community, I'm trying to get a handle on the BRRRR strategy and although I think I've got it I have 2 quick questions:1.) 

Also my strategy is to buy and hold so while the balloon note works for many investors, it doesn't work for my strategy.

I'm Jake, I'm literally just starting out.

Buy or inherit and hold all their lives while working the properties for income.I've seen teachers, firemen, software engineers and all sorts of people utilize both strategies successfully.