With no leverage, there is no leverage multiplier.  

You are multiplying several challanges for an overall much higher risk profile. 

Where can we add a multiplier — skills, assets, systems, or partnerships — that actually compounds?

This will be an investment in me that I will multiply 10X.   

A levered debt fund multiplies this risk.

That last part is the multiplier.

BRRRRs are challenging even when they’re local, and that difficulty is multiplied when you take them out of state.

Than there is 2X leveraged funds that one can again, do Options on getting a multiplier to that 2X leveraging. 

Similarly, adding units doesn't automatically make an investment safer; it simply multiplies the points of failure.Bottom line: multi‑family doesn’t automatically equal more reliable income—in fact, it often does the opposite.For over 17 years, we've delivered more than 600 investment properties using this process: start by defining your financial goal.

So you multiply that and well your turn overs are going to be costly.