Downstream manufacturing is about to get shot in a month or as demand collapsed due to COIVD stay home.Attended another session with Freddie and Fannie lenders as well.

Some initial thoughts: Property management and acquisition are two different things.

Hello @Jeremy VanDelinder,   I'm located in Los Angeles (relocated from Houston a couple of years ago) and I'm currently looking into doing a BRRRR on a fire-damaged property; This would be my 3rd rental, but the first fire-damaged one;  I definitely see the risk of getting into this,  but the potential benefits can be well worth it..with this said, I wanted to ask your expert advice if possible in regards to my inquiries below: a) When walking into a fire damaged property (SFH) to do an initial assessment, what would you say are the key things to keep an eye on and look for ..   

After re-reading your question, I realized I may have initially misunderstood your question.

With an FHA loan and estimated closing costs, I'm assuming the initial investment will be $21,125 for a 30 year mortgage at 5% interest with 3.5% down.

Great to have you here and good to know your initial experiences in your Real Estate investments!

My initial worry is that in a market like Colorado Springs the rent-to-price ratio won't be conducive to cash flowing properties, especially with very little money down.

Realtor basically described it as an ugly house that will provide immediate cash flow and could probably appraise for a price sufficient to pull out my initial capital without much work having to be done.

Luckily we got our initial investment back when the house sold.

We were low-balled by our contractor, he dragged his feet for months, took the initial payment and has since disappeared.