Matthew, think about doing more in-depth desktop analysis before going into full due diligence mode. 

The survival of one of the nation's largest non-bank mortgage servicing companies was thrown into question Thursday as the company was hit with federal and state lawsuits for allegedly failing borrowers with mistakes, shortcuts and other problems that cost some people their homes.Ocwen Financial Corporation allegedly botched basic functions such as sending accurate monthly mortgage statements, properly crediting borrowers' payments and handling taxes and insurance, according to a lawsuit filed in a Florida federal court by the Consumer Financial Protection Bureau.The CFPB also accused the company, based in West Palm Beach of improperly foreclosing on struggling borrowers, ignoring complaints and selling servicing rights to mortgage loans without fully disclosing mistakes the company and its subsidiaries made in borrowers' records.Read full article here...

BRRRR is great in theory but in today market that model is out dated just like the 2% rule..

Don’t forget yard maintenance, treees and weather if they are concerns.If you’re buying in the neighborhood you live in and buying the type of properties you live in you can use yourself as a ballpark and add 10-20% for the “tenant doesn’t treat it like you do tax”Honestly, first property take your worst case numbers in a model ad see if you can survive.

I don't dismiss the value of that.Side Note- My current other project is talking to local lawyers, builders, and investors that survived and thrived after 2008 in order to learn best practices for stress testing and contingency planning.

The turn key model is more common for out of state investors, but that's a very different strategy than what you have described.

I urged him many times to refinance and do it again close by but he is in retirement mode. 5% would be a good idea knowing as long as you know your tenants cannot fullfill all of your expenses initially that you will be out of pocket.

@Rivy S.Hey I’m still in learning mode here.

I personally am in learning mode on retail.

My asset allocation model is now "put as much into real estate as possible."