However, its subscription costs can add up, and the effectiveness of direct mail depends on execution and market conditions.

What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

There are a million low cost or free options out there.

I was wondering if there would be any advantage creating a LLC or business to pay for the renovation costs.

What leads to the highest repair cost? 

Investing locally in the Bay Area will come with higher acquisition costs, but appreciation can still build wealth long term, so don't be weary if you're property doesn't cash flow right now the bat.

I've considered a property management company, but the cost just doesn't seem worth it although it would be convenient.

Keep in mind refinancing costs typically range from 2%-5% of the loan amount, so weigh the upfront costs against the long-term savings to see what works best for your goals.Good luck!

Just make sure to read the management agreement carefully, the monthly % isn't the only cost to consider!

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.