BRRRR vs Flip guidance needed!

[Christopher J Abbott]

First post here, so please go easy on me! I've been lurking on the forums for a while, as well as reading some of the recommended books on BRRRR, Syndication Investing, Multi-Family Investing, Long distance investing etc etc. Held single family property overseas before (now sold) but looking to diversify my investments and ultimately leverage passive income to quit my day job.

It seems to me, based on a lot of the posts here and my own research, that the BRRRR markets in major metros are 1) very saturated with competition, 2) not generating near the magic 1% numbers at the volume required to scale quickly - and because of 2) maybe it's better to focus on flipping until such point as house prices cycle downwards?

Is this a correct understanding? Am I missing something? Are there any keys to BRRRR which allow for success at scale in today's marketplaces - starting at a higher price point for example, or starting in small multifamily? Or is it more important (if you can afford it) to pull cash out and live with negative cashflow until you increase rents?