While the markets I have chosen may not have as much rent growth or cap rate compression as other top growth markets, I believe the lack of competition makes up for that.Just as investing in the stock market, or bitcoin, or anything, you want to be ahead of the heard as best as possible.

If we have a vacant house whether rental or rehab in the winter, we usually winterize the houses by draining all the water and heating system, blowing out the line with compressed air and using RV antifreeze in the traps and toilets. 

The investor will have to distinguish between those properties suffering temporary cash flow compression, and those with functional obsolescence that are essentially tear downs.In the SFR arena, there are no obvious categories for subject to right now.  

It's going to be pretty difficult to do a true BRRRR in metro Atlanta because of how compressed the market is, so if thats your goal you should look further out.

I think you could compress the bedrooms to 10x12ish, eliminate large closets and shrink the kitchen.

Profit margin compression in a hot sellers market.

On my PC they are very small and compressed, I can't tell if I'm looking at maps or moldy soup.

From what I am seeing on the acquisition side of syndications, CAP rates have compressed even lower causing apartment values to increase.

Lenders don't just want to cash you out because cap rates have compressed in the short term (less than 5 years) - they like to see increasing NRI, increasing other income, and expense compression driving cash flows up organically over time.

Yields on every type of investment, real estate, bonds, stock dividends have been compressing for a decade.