I've done a bit of surface-level research but I want to really dive deeper and build a solid foundation before I start actively looking for deals. 

I'm not sure I agree...it's hard to say with a single picture, but the entire premise doesn't add up...The tub is cast/steel which is then enameled or epoxied etc, and since you say there's no visible indication on the surface of the tub then it is highly unlikely that the coating itself has failed.

He is not spamming people with his surface level knowledge e-books and creating passive income on linkedin.  

As with anything that seems too good to be true on the surface, it usually is.

On the surface it seems like a great opportunity to pick up a property in an appreciating B-neighborhood, but should I be concerned about the initial negative cash flow?

Rolled 2 layers on every surface and got rid of the cat smell.

Not saying to go cheap for a flip but as long as the surface is prepped and then the wrap put on correctly, you should have a fairly energy efficient home especially if there is any insulation in the walls.

For walls, tile looks sharp and adds value, but it requires more upkeep; solid surface or acrylic panels are easier to maintain.

They’re not the most exciting read, but I’ve caught early signs of zoning changes and policy shifts that could impact operations down the line.Market Tools (Rentometer, AirDNA): I don’t rely on any one tool, but using them in combination helps create a baseline for rent comps, particularly when weighing LTR potential against STR or MTR models.Local Investor Conversations: Whether it’s chats here on BP or catching up with other Phoenix-area investors over coffee, these casual conversations often surface key info—like permitting updates or changes in code enforcement—that’s not always widely published.Refining Internal Processes: I’ve been reviewing and tightening up our PM workflows—everything from tenant communication to maintenance tracking and lease renewals.

This was the result of finding a property that was mismanaged and "looked" bad, but it really just needed surface level modifications to look good again (appliances, paint, some exterior work, etc.)These deals will pop up if you analyze properties consistently.