I really appreciate you sharing your approach and experience with this BRRR.

Then you'll know how you want to approach these owners, and we can help you market to them.

I have generated a list of pro’s and con’s to each of these approaches, and was hoping people would weigh in on the best strategy.Pro’s & Con’s of just using cash:1.)

Barrier's to entry seem to be low, it's not too far for me to be able to drive down on a weekend, and returns seem healthy.  

Exceptionally few markets are overbuilt right now, at least markets with healthy population growth and other sound fundamentals.

Establishing a healthy working relationship with a reliable GC & crew is just as important as finding a good HML.

@Ariel Haas  is this a property that can appraise based on an income approach?  

We were going to take out a personal loan from our local credit union to cover the rehab costs, but family has approached us about losing us the funds.

It's usually a combination of the two.I'd be curious to hear how far below market they were and how much money you lost.For those looking to run like a business and build wealth, turnover is a natural, healthy indication you're doing things right.

@Josiah HruschNot necessarily a real estate specific approach but a good mindset book is called It Takes What It Takes by Trevor Moawad.