Why don't I ever hear about people losing money doing BRRRRs?

[Mike Schorah]

I always hear about people losing money flipping houses. Why don't I ever hear about people losing money doing BRRRRs?

For instance, I've heard of people losing $5k-$70k on a flip sometimes, but I never hear of someone doing a BRRRR and the property not appraising at the ARV.

If a house flip fails, I've heard of people giving the house to the lender or extending the loan terms. What happens if a BRRRR fails?