The best way to get a property though is to use the BRRRR method. 

I have recently opened a line of credit to be able to do something like the BRRR method, by buying a cheap/ rough property and improving it with the line of credit and then refinancing it once its completed in order to "recharge" the line of credit and do it all over again.

Yes,  doing systems work and stuff beyond paint/floors/trim sort of cosmetics can get expensive fast,  but so can a roof or plumbing leak or electrical fire.   

If they are using methods #1 or #2 above, their markup is actually built into their pricing!

I'm trying to understand this a bit better, hence the reason for the thread, to weigh in my proposed method versus your proposed method. 

I bought it this year and originally I wanted to do the BRRRR method on it but now I just want to get out from under it.

Is there a better method for someone doing their first deal?

Find out how he or she wants to book these types of transactions and then stay consistent with that method.

I have a contractor that can handle everything except plumbing and tile.

what would you rather have, a piece of mind for $250 or potential 5 digit plumbing bill in some years?