As a result my 2 properties Had a total of 11 months of vacancy in my first year, forcing me to drop rents and have overall negative cash flow.Conversely I have seen massive wins!

Two big mistakes:1) Taking your property off the market 2 months ealy for a tenant 2) Not taking a nonrefundable Holding Fee to reserve the propertyInform the tenant that they are breaking a contract and they should have done this research already.Furthermore, you will hold their SD to potentially liquidate for unpaid rent, until you can find a replacement tenant - at which point you will refund a prorated amount of whatever is left over.They will threaten to sue, to which you can reply that you can also sue to force  their performance of the lease contract.Recommend you get all this all in writing as they could play a game and claim they want occupancy if you find a replacement tenant - then sue you if you already rented to someone else.

Most landlords and property managers try to overregulate tenants to force compliance and they forget the entire point of the lease (details things so tenants understand); it's crazy!

I’m a 30-year Air Force veteran, TX real estate agent, and third-generation real estate investor.

An experienced agent would have worked with the seller to do the repairs before they sold, and captured the forced equity in the sale.

This might be a simple answer but would love to hear other thoughts on if new construction sfh rentals are forcing the prices lower for older sfh?

But for my goals—cash flow, scale, and out-of-state investing—small multifamily makes more sense.They often cash flow better, let me acquire more units per deal, and I can force appreciation by improving rents and operations.

GREAT analysis and breakdown of items.Emma: Dan is a force in Lane County and his observations are gospel. 

I listened to Rod’s podcast for a number of years and forced my wife to listen eventually as well lol.

You're asking the right questions, especially around local vs. out-of-state BRRRRs.local vs out of state, how to decide: Staying Local Pros:Easier to learn the process hands-on (walk properties, meet contractors, see issues in real time)Faster response time when things go wrongSimpler team building — you can drive and shake handsCons:In high-cost areas like NorCal, cash flow and BRRRR math often don’t work unless you find a unicornAcquisition costs tie up more capitalARV jumps can be slower in soft markets Out-of-State Pros:Entry price is lower, so your equity can go fartherBRRRR-friendly markets (Indy, Ohio, KC, etc.) have stronger cash-on-cash returnsYou're forced to build a business, not a job (because you can’t do it all yourself)Cons:Harder to vet contractors and PMs remotelyIf something goes wrong, it's tougher to course-correct quicklyTrust is everything — and harder to earn at a distanceMany investors I’ve worked with start local for deal #1 or #2 to learn the ropes, even if the numbers aren’t perfect — then take that confidence and equity out-of-state to scale smarter.Others with super tight local markets (like the Bay Area or L.A.) will build a strong remote team upfront and jump right into affordable BRRRR markets, accepting that they’re learning from afar but making the numbers work better.It sounds like you’re just a step or two away from being ready — paying down that credit card and accessing equity is a solid move.