I did get pre approval for fha loan.

I live in California, and bought a tax lien certificate (technically a Certificate of Purchase) on vacant commercial land in Arizona, sight unseen, at an online auction.

You can imagine this can swing interest rates on refinances significantly dependent on the extent of that score discrepancy.

Why not sell at a stepped up basis and pay zero taxes Uncle Sam?

Ideally, my property generates around $500 per month cash flow after accounting for rent, insurance, tax, interest, PM fees.I’ve recently realized that repairs costs have notably affected my profits.

I check county records, tax records, current appraisal from the local municipality, and check for comps in the local are with respect to the properties condition. 

Thursday I completed a large rehab in mission beach on a small unit that was supposedly built in 1901 but I question if that is accurate (I have some belief it tax built in the 1920s, but records show 1901).  

All tax attributes of the investment itself belong to the IRA.

I agree that BRRRR isn't the easiest but I wouldn't say it isn't the best, that will depend on the specific deal. 

The answer depends on how good you are at painting and how much free time you have.