Welcome to the community and feel free to post in any forum really but this specific one is more for the BRRRR Method.  

So, don’t feel discouraged.From a tax perspective, here are some things to keep in mind as you start with out-of-state BRRRR or small multi-family investments:Track everything for depreciation: Your purchase price, closing costs, and rehab expenses all feed into your property’s cost basis.

Usually, we do not BRRRR Commercial properties. 

To BRRRR, in the simplest terms, all you need is a loan and a property that makes sense.Keep it simple.

@Camren Berry this is the problem and the BRRRR Method solves.  

Purchase price: $154,000 Cash invested: $184,000 BRRRR method.

I've grown a 70+ door portfolio BRRRR'ing in just 3 years. the creative hybrid method is what I think can be done at scale. buy one BRRRR with the Heloc and every year move to a new small multi family BRRRR with low money out of pocket. as your capital grows you can grow faster and faster

I personally wouldn’t start a side hustle until I've exhausted most other methods for raising funds.

For us it's been savings, private money, and credit cards to get BRRRR deals completed.

Quote from @Devvrat Kumar: For investors doing multiple BRRRR deals each year—how are you handling the impact of multiple hard credit pulls from lenders during cash-out refis?