But I have changed my mind and decided to do BRRRR in Calgary where numbers do work out. 

Here are the details:Buy in cost is 100k which would max out my HELOC @ 4.4% variable, with option to fix the rateApartment Details:Plan to hold for 10 yearsFirst 4 years Cash on Cash (pre-refinance): 8%Average Cash on Cash for 10 years: 12%Purchase Cap Rate: 8%Total Return on Original Investment (Cashflow + Sale): 134.46%Annual Cashflow Average: $7,500Refi cash returned after 4 years: 62K10 year IRR: 14.6%Equity Multiple: 2.34

I used to wholesale, on a bootstrap budget, did well mostly focused direct to seller on pre-foreclosures.

At the very least you should have a discussion with your lender and have them pre-qualify you if you are planning on getting traditional financing.

@Jennifer Beatty if you’re planning to wholesale, your seller leads will likely know the market is hot and be expecting a little more, but there are still deals to be found.If you’re planning to flip, finding deals will be a challenge, but with the market the way it is, selling is less so, and your ARV pre-flip may not be your ARV post flip (in a good way).

I think your first step should be getting in contact with your current lender and seeing what you would qualify for in terms of financing at this point, then delve into the realm of new construction loans pre approval once you have a ballpark of how much a new build will cost. 

It’s still an hour away from Austin so not sure how that’ll work out.  

We were in the process of getting pre-approved for a loan when we hit a roadblock.

@Tim ShiI use 5% in all my pre-acquisition due-diligence, because I want to be consistent when analyzing different properties.

Your particular DM "effort" had not been presented previously,  but it's easy to see why it did not work out as others have pointed out.I'm sorry you way overpaid for your list, but most can tell you just one and done isn't going to produce much...what we're talking about is not much like a vending machine; more like farming.