That's after 3 years of intense looking and two offers in 2019 that I got cold feet on because it would have been the first investment property that I have owned. 

Because interest rates are higher than before you're expectations on the strategy might have to get adjusted and be more creative in the acquisition. 

The insurance world was not ready for Turo, Airbnb, etc and is still adjusting. 

I move cash from my checking account, that I don't need each month (your 130 dollars a week) into my taxable brokerage account, which is my "cookie jar", and then I buy a wisdom tree ETF ticker USFR which holds eight week US Treasury bills and currently pays 5.4%. and it re-adjusts much faster to interest rates than savings accounts or even money market accounts do.

I’m purchasing an investment property in the Atlanta, Georgia area. The original owner has a ton of exemptions so she only pays $400/ year on property taxes. Without the exemptions the bill is $4,000+. Tax bills have ...

You can end up locking up access to equity and cause your buying power to become frozen due to DTI or an adjustable rate.

As you gain reviews, you can then adjust to market value.

In my market $10.50 is BELOW the average for an entry level labor intensive job requiring no education.

@V.G JasonI think you're saying that for people who bought maybe at the tip top of what they could afford, if they take on more debt and/or variable rate debt adjusts and/or they lose a job and/or they get divorced, they'll be under a lot of financial strain / potentially unable to afford their mortgage. 

It might be easier to look for a partner to put up the capital if you find the deal manage the renovation and other time intensive activities.