I am currently searching for deals and using the BRRRR method.

I really focus on finding the right deals so I have been methodical in my approach but would also have to shift FT and move away from my W-2 to make that a reality.

While there of course are some inherent risks with this method it can be lucrative if you execute it well. 

So I'd like to say I'm following the BRRRR method, but I'm currently done the following, Buy, Rehab, Rent, however, I've never refinanced a home, so I'm not sure what the process flow typically looks like other than some minor details here and there. 

I need someone to break the BRRR method down to me.

I’ve found this method to be effective, but very time consuming.

Feel free to send my a PM and I could recommend a couple of my favorite channels. 

I should want to rent the place for $800, and I can see myself applying the 50% rule to $800 method rather than the $500, especially when it comes to covering the refinancing part of the property.

@Luke YoureeBrett nailed it, and for my favorite answer, it depends. 

I used Brandon Turners The Quick and Dirty Way method on Analyzing a property.