Financed SFR breakdowns with real numbers?

[Brandon Stiles]

New to REI - looking to finance a SFR and was wondering what kind of margins people are getting who purchased at current interest rates in B-C areas? I'm planning on BRRRRing with a HELOC on my primary to cover DP and rehab and hopefully cash out refi to recoup the majority of my investment to move on to the next prroperty. With current prices in my area (Bentonville, AR... Walmart HQ) and interest rates I'm struggling to find a deal where I can actually cash flow (or even come close) after PITI and operating expenses at ~40%

The average 3/2 in my area is renting for $1,500-$2,200 but to purchase a similar house with 20% down I'd be right around $2k PITI. Most of these houses were purchased 3-4 years ago for half the price and a lower rate if I had to guess and that's why they're able to rent for so cheap...

Should I hold out until rates drop even though home prices will most likely rise?

Thanks in advance