@Jonathan Hulen I’m not sure to your question but if you read my new book “how to invest in real estate with lots of money and zero debt” you’ll find the answer.
If that doesn’t help, I can give you the seminar training method for only 50k! What a steal.
Joking aside, if Birmingham is similar to Memphis (where I own) cost wise and as a market as a whole, you probably are looking at 20-30k rehab. That number seems pretty standard for a 3 br 2 bath 1100-1400 square foot house. The acquisition and ARV could vary a lot
I’ve recycled $50,000 - $55,000 into three different BRRRR properties in the last year and a half. It is definitely possible, however mine have all been off market deals which made it possible.
Agree with @Jamie O'Brien . It can be done with 50-55K, it'll take some work to find the house but they're out there from time to time. Centerpoint might be a little tough at that price, but you can do it in Eastlake, but be careful as it's street by street there, even block by block in places. And don't use Zillow's ARV, of course. Make sure you vet the location and ARV through some local agents and investors.