I'm curious if BRRRR ("fix & rent") works in the Fayetteville metro area. Essentially, the ability to have your purchase price + rehab costs <70% of the ARV, so after you rehab you can find tenants & then refinance to get all of your cash back. I'm sure there must be some areas / neighborhoods where this works? Of course, the other requirement is that the rental income is enough to cover your mortgage + expenses on the back-end. So this tends to work best in middle class neighborhoods.

Are there any licensed real estate brokers / agents who can help me find such properties? Not interested in Turnkey btw - I'd rather buy pre-renovation (not post-renovation) to capture the equity myself.

Which Fayetteville are you talking about? There are a few around the country. I am in Fayetteville, NC. 

We're in the Fayetteville, AR forum, so let's go with that one ;)