Everyone has different models of success. 

Many of them ended up with a secondary strategy of BRRRRing the property instead, but they are probably not going to cash flow as it wasn't purchased with the BRRRR model in mind.

@Alex M. has developed a pretty cool management model that's really cost-effective.

Hey BP,First, let's clear the air here. I fully understand "Fixer Upper" and other similar shows are for entertainment purposes and do not fully show the details of a REI business.Now that that's out of the way, how w...

It's a quality asset, great location, units generally in good shape, although there is some value add (forced appreciation opportunity), the only downside from the  typical model is I don't think it can get bought at much of a discount, certainly not a 20% discount.  

I.e. they get profit sharing and their contribution is the sweat equity.You would have to modify the model to include a GP/LP contribution and split. 

Owner-financing determines how soon the taxes are paid but does not change the rates.As my colleagues already mentioned, trying to DIY this business model is risky.

we paid 440k for ours in 2004 which I thought was over the top.. but now same model is 750k. 

I got started with "Nothing down, how to buy real estate with little or no money down" by Robert AllenHad to learn everything else along the way.The model works well in Arizona and Texas where I invest but might be a bit harder to cash flow in California, Illinois or any other high expense state.

This is business, and as such, sticking to the business model/criteria is the way to go.