Hi Ashley, my clients have been getting some great returns on their BRRRR properties in both Birmingham and Cincinnati.

You plan to declare the rental income on your tax returns either way, right? 

ps: I'm aware that internal rate of return (IRR) can help me estimate that but it assumes the whole value of the property (equity), while I want to exclude equity from the equation, as I'm not going to either sell or refinance the property in the first few years for sure and thus want to analyze cash on cash year over year for the first few years only.

WLB has not only the lease, but at least a dozend other forms and notices you need (aplication form, lease, rules&reg, non-standard lease providsions, lead disclosure, CO and smke detector notice, pet agreement, 5 day notice, lease renewal etc. 

Thanks You need insurance specific to non-owners occupied properties.

(2) expectation for return/cash flow (3) class of neighborhood (A, B, C, D).

Investors love this area for the cash flow they can make, and I find a ton of off-market deals that are below market value, so they expect a better return.

Some of the funds I was invested in came with pretty hefty fees that would cost me thousands of dollars for basically nothing in return.

The documents required would be last (2) year tax returns and copies of the last (2) years 1099 year end statements.

., Yes and No... the city is working on replacing old pipes throughout the city to get clean water to everyone; so there are large areas that do have non-lead water now.