There are many good locations - I'd suggest that you play around with the "Market Finder" tool at the top of the screen here, included with your pro membership. 

I just feel like everything that I am looking at has to be a high effort strategy or an equity/value add play.

New construction in a saturated market isn’t always the best play if you’re looking for steady returns.A place like Rochester has way better fundamentals—lower buy-in, strong rent-to-price ratios, and stable demand from universities, hospitals, and major employers.

While I would have built $150,000 in equity, the cash flow simply doesn’t work.Now, let’s compare this to the market conditions when BRRRR was highly promoted (pre-2020).Interest Rate: 4.75%Monthly Payment: $3,057/monthRent: $3,600/monthIn this scenario, I’d be making over $500/month with $23,000 left in the deal, resulting in a gross 26% cash-on-cash return—an excellent deal.As you can see, rates and prices play a critical role in the viability of the BRRRR strategy.

Hey Eli, Great question on the 6% and it does play a factor into the cash flow.

And a single or double play is awesome.

@Chris Seveney @Marcos A Miranda - you guys are playing with fire - https://www.biggerpockets.com/search?

There are to many variables in play.  

You need to remember that, hopefully, this is a long-term play for you, so work with a trusted STR designer (I have great recommendations), and spend the money upfront so you can be the most successful in your area.

I recently have connected with investors who are interested in assisted living facilities, with the play of unlocking government funding, not sure if there's similar opportunities with SL facilities.