CA maybe as high with their EIR requirements that cost 250k to 500k just for the EIR reports.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I'm with you that sidewalk slip and fall litigation may be less likely in the Midwest than say Mid Atlantic which tends to have more litigious cities but dismissing premises liability issues can come back to bite an investor and when these properties have such razor thin margins that an investor must consider the cost benefit analysis of safety against ROI, there is a real estate issue and is usually a losing proposition.   

Less Desirable Areas: Are there neighborhoods we should avoid or areas where BRRRR might be less effective?

Propstream - Data creation + stackingDeal Machine - Driving for DollarsOpen Letter Marketing - Mail ProviderUsing these 3 platforms, you will be able to create lists, research properties, and market to them effectively.

A simple explanation might be that rents have increased to offset higher mortgage costs, but what about property owners who locked in rates below 4%—or even 3%?

Housing prices are high, mortgage rates are high, and competition is fierce so revenue is way downIt’s one thing if you bought a while back like many of us did, so your cost basis is much lower.

Extra 4 months of carrying costs are up most of the margin.

to save costs, and responses sometimes took weeks.

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate.