@Jacob MaesThis depends on your definition for "successful" BRRR? 

Definitely starting to see them, I have helped clients purchase a few.

You may need to foreclose if they don’t pay so make sure you have legal representation to record your interest, and that any notice comes to you, not your lawyers office.

There's definitely a lot to know!  

Quote from @Neetu Patil: For California, I highly recommend you join the California Apartment Association (CAA) where you can get forms, training, laws, legal help, etc.You are in the most regulated, litigious corner of the world where tenants can literally stop paying rent for years and prevent you from even inspecting the property.

Could you elaborate on how you arranged that (legals, title?

Breaking these three down on the direct impact they have had on multifamily pricing: rising interest rates impact your cost of capital, and taxes and insurance impact your net operating income (NOI) which has a multiple effect on evaluations when using the NOI approach for assessing value.Value, while a simple definition, is a complex concept.

If you plan to do property management in this area get your website up and running, get some paying clients, social media, and all the legal done first.

But rent is guaranteed and you are fulfilling a housing need.Ben makes a great point, you will definitely fail your first inspection. 

As you advance, you can come across chances to take an active role in real estate transactions after you reach legal adulthood.