Interesting. I've been BRRRR'ing for almost 15 years and basically stopped doing it as of 3 years ago, because there is almost no price difference between run down and move in ready. Instead, I am now buying properties close to turnkey and focus more on negotiating a discount and letting the market take care of the value increase - Milwaukee has seen very steady 7-8% appreciation per year for the last 10 years.

Why do I not buy run-down anymore? Because I can't get enough discount for poor condition. That is the whole basis for BRRRR. Our inventory is so tight that sellers don't have to lower their price, they can just sell to a desperate first-time home buyer, who thinks he can rehab on weekends with the help of his uncle and 10k in materials.

One of the best deals I have done was stepping in on a deal that had fallen through on financing and was also daisy-chained to a purchase, so the seller was very motivated, had a huge amount of equity and was excited that we could keep his original closing date.

A full-blown BRRRR for us typically means 50-80k in rehab cost and it is actually to spend 5k per week consistently and avoiding empty weeks with no work done by very tight planning. The problem of removing buffer time is if one trade takes a couple days longer you might loose the slot for let's say your drywall crew and then they have to push you back a couple weeks, which impacts everything else. So it's management-intensive.

Much easier to buy, maybe paint and carpet, install some extra ceiling lighting and dimmer switches (50s and 60s homes always lack lighting) and then have it rented 2 weeks later.