The best markets have been saturated for years (Airbnb/STR got way to trendy) and locals tend to hate them so additional LTR units will be welcomed. 

While DSCR loans tend to have interest rates a bit higher (generally 0.75% to 1%) than the other two options, which can challenge cash flow, this comes with some advantages that are uniquely suited to the BRRRR method.

@Chris Clothier yes we are seeing residents be less mobile recently as well (we manage 1000 doors in OKC Metro) as long as the owners keep the increase under 10% they tend to stay and renew.  

If you need to secure a property quickly, or if you are doing renovations that can be completed within a year then you are better off using hard money or private lending options as they've got quicker close times and tend to be more investor friendly.

.- These tend to be "assassin" type shops who are small teams of pretty elite operators, and they aren't bloated down with BS like the big CRBE's etc of the world, so you'll get exposed to more, you'll get exposed sooner, and they will generally be ideally with a niche industry or product type but will often have a ton of satellite deals they get which will get you cross industry exposure. 

There also seemed to be a lot more room to renegotiate management or purchase contracts versus residential where people tend to tell you things are set in stone. 

People tend to have short term memories.

People tend to stay in the city they were raised too.

But my personal experience is the newer companies tend to be the ones that pull out of Texas within a few years if not sooner.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.