They're experienced investors and some of them buy sight unseen in multiple states - they have a high risk tolerance. 

I'd rather pay less now with a higher rate that I can refi out of than wait until they are lower and pay more (and probably have worse terms in the contract too due to multiple offers).  

I'd get a house with multiple bedrooms (4-5) and you can live for free or even cashflow with the rent you'll receive.

We're picking up extra work, multiple side-hustles and cutting living expenses... what am I missing here?! 

I have seen multiple things happen that are unexplainable.

Multiple reasons why - high turnover, language barrier, individuals not representative of your brand, etc. 

A well-maintained property not only attracts quality tenants but also helps preserve its market value.Time Management: Managing a rental property can be time-consuming, especially if you have multiple properties or are working another full-time job.

Additionally, ARVs in these areas have a cloud of uncertainty so it will be prudent to be conservative in your analysis and have multiple exit strategies in place.If the home is located in an area with minimal impact from the storms, there has been a small uptick in pending sales the past two weeks compared to same period prior to the storms.

There are multiple resources to help you find a market and eliminate markets where you don't want to invest.

Contrast that to 2022 when units were getting multiple offers within hours of being listed.