That being said, Id rather lock in more debt at historically low interest rates than pay 2 or 3% less for a property while paying a 2% higher interest rate.

@Andrew Kerr area is not a warzone, just low income. 

A few things I noticed (1) you didn't include gas in your expenses (2) management expense at 6% seems low - I've used companies <10% before and I paid for it (3) billing back utilities via RUBS (Ratio Utility Billing System) is a legal, extremely economical way to bill tenants their fair share on a master metered property, however, make sure your state statues support it and is fairly commonplace with your competition. 

Your purchase price needs to be low enough that a Flipper or a Landlord would be willing to pay you an assignment fee for the right to buy the contract from you and then close on the property under the terms you negotiated.

Speaking with investors who have experience in multiple midwest cities the bar in Milwaukee for landlords is actually quite low.

@Jimmy ReadyYou can contribute up to $5,500 to an IRA per year and this is an addition to being able to contribute to your employer 401k plan. https://www.irs.gov/retirement-plans/plan-particip...When an IRA invests in real estate and the IRA does not have enough funds to fully purchased the property, the IRA can obtain a non-recourse loan.

You're borrowing money, and with a HELOC, at very low rates, it's super flexible funding and as cheap as money gets.

If you report as a Schedule C, it won't hurt you, if you are a corp it will hurt you because it gets deducted before you get to your bottom line which goes to you via a K-1.To quickly address the 401k component, if you're reporting as a corp, the employer portion of the contribution will hurt you and the employee portion will not hurt you since it is on your paycheck stub.Not sure exactly how it would work if you have a 401k AND you report on a Schedule C.Of course, I would talk to your CPA about this further.

@Jared Bausch  You need 2 years of history in self-employed income.

If you're employing the BRRRR strategy, the first thing you should do (before making an offer or talking to a hard money lender), is to talk with a loan officer to see if you can qualify for a refinance.