For instance, in my market, from FY 24 to FY25, the HUD rents increased by 11% (Worcester MA) signifying significant increases in demand vs. other areas where it may stay stagnant or lower which would signify the opposite.

Do you find that lower down makes it harder for a successful BRRR? 

for some of us "regular folks", a tidbit of info here to lower the appetite if you are not in that class of investments:"Regulation D, Rule 506(c)" refers to a specific exemption under the U.S.

So could you get a similar return in the US where the risks are lower?

It’s also a much lower priced house than the couple I have now and I can afford to hold this and pay the mortgage with no occupancy. 

Find a realtor that will submit the offers and lower your cost basis enough to where your returns get a bit of a bump. 

But I do appreciate r this sentiment as it does lower competition in the area :). 

You can get some insurance on unpermitted units, a lower coverage amount than for a permitted unit and will have difficulty rebuilding it as a permitted unit at the covered amount (which makes sense because its value is less than a permitted unit).  

If it's not selling, you need to lower the price.

I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.