One suggestion to consider as I mainly do BRRRRs as well- find a local bank or credit union in the area you plan to buy that offers construction loans.

It can be used to monitor markets, filter results based on lots of different criteria & even includes annual revenue numbers that you can work backwards to see how certain markets/properties are performing.

With strong market demand, it sold the same day for $185,000, resulting in a solid profit.

It doesn't sound like you visited the market, the PM, or the seller in these markets.

People in 2005 were angry the market was so competitive.

I’m not familiar with those markets, but I would suggest finding some meetups and attending as many as you can.

I sold out years ago and it was the best thing I ever did. unless your up in Madison or by the REsivour in prime areas Getting houses stripped is a major issue and letting folks just walk in is insanity in those markets NO LOCAL would remotely consider that.

Unfortunately the short and mid term markets are slowing down.

Depending on where the property is situated and the "local market conditions" I have them rented out as either long term, mid-term or short term.

Typically I recommend that people get very clear on your vision for not only what you want to do but the exact markets you want to do projects in and narrow your focus to those.