That said, I hear you loud and clear: unless that ARV is significantly higher (like the $600K you mentioned), there’s no way to make those numbers work cleanly.Right now, I’m just trying to understand the mechanics — how people are structuring deals using seller financing combined with private or hard money, even if there’s some cash left in the deal.

With the BRRRR method, most people either buy with cash, a HELOC on another property or (as we do) private loans.

I buy in Wisconsin, do you know markets in WI?  

That's a horrendous fallacy and a weak mindset to think that real estate agents are buying the best multis.

My job is to identify necessary repairs and make sure my Buyer is buying a solid home.

This is because people will usually choose newer homes, which limits price and rent growth of existing homes.

Not wanting to do OO means your best options on these, local buyers who would buy off market for better loan terms are out. 

Buy and hold real estate isn't going to make you any money in the short term - in the short term it consumes capital, and it's in the long term you get all benefits.There are certainly niches that make money in the short term, but they're not passive (flipping, STRs).So - I don't know that REI vs business ownership is an apples to apples comparison.  

@Oren DadonIt’s great that you and your group are looking to invest in Dallas for a buy-and-hold strategy!

And you also get to use part of the property for your primary residence.Here's the end game - After a year or two you move out, back fill a renter and buy another one.