Established Cash Flow

[Timothy Ketelhut]

In reading David Greene's BRRRR book and Brandon Turner's "The book on rental property investing" they talk about the different types of money making vehicles (cash flow, equity, etc). I am very interested in multi family properties with 2-3 units in them. I am a new investor and I have found numerous rentals in good condition, with long term renters already established (one in particular has had renters for 18 and 9 years), cash flowing anywhere from $400-$700 a month (including factoring in CapEx - 5%, anticipated repairs - 5%, property management - 10%, and a mortgage). A ton of these properties are between $75,000-$125,000 and some have been on the market for 20-60 days. My idea would be to make an offer that included seller's assist which would reduce the amount of cash I would need to put down. However, I can easily make an attractive offer without seller's assist. I know this would limit my equity but give me immediate monthly cash flow on rentals that are already working. I am attracted to this because it would get my foot in the door with very little money, generate a nice monthly income, and allow me to get my feet wet and experience rentals without doing a full blown renovation or needing a lot of cash. My plan would then be to re-invest the cash flow into another property and hopefully pay cash to do my first BRRR property. While this strategy may take longer to grow a mass amount of wealth it will also be a bit more organic as I like having majority if not all of the house paid off rather then have a bunch of loans. Can any experienced investors provide me with some pros and cons of my thinking or strategy?