Even most gray have undertones too such as blue, purple or hue of pink.

Harvesting unrealized tax losses on portfolio assets may make sense, but you and/or your financial advisor should be cognizant of wash sales. 

I don't rehab anything anymore and I currently have 2 more under my belt at 40k profit and 70k profit over the next 5 years I don't need much cash flow ( although they have a few hundred dollars) so I look at these as seeds in the ground that will one day yield a big fruit harvest in 4 or 5 years.

In all honesty, most "turnkey" properties have already had the profits harvested by the time they get to you, the end user.

@Chase Gu - I have the "pink unicorn" here... lol. 

Aside from that, most of the time BRRRR is going to work on basket cases, not houses that have pink walls, because you are going to buy it at a distressed price because of the scope of work that needs to be done.

I've been a part of other "non real estate" forums as well and with experience, one learns how to sift through the manure to harvest the worthwhile content.

I would focus on Huntsville and outskirts, toney meridianville, madison, limestone county, harvest, hazel green , gurley and hampton cove. 

The value is in the companies that harvest it and make it useful.

In some cases the land has been replanted and will be ready for harvest in 20+years.