Usually turnkey operators suck the equity out of a deal and sell at or above market so there goes the equity. 

I'm going to be taking some time to get to know people in my market as I kind of want to start local in Las Vegas.

What market are you referencing?

Study the market.

If anybody local (especially other wholesalers) or anybody else even out of my market wants to connect, feel free to reach out!

But, the self-sufficiency test for FHA loans can be really difficult in SF, meaning that the market rent from units you will not occupy must be sufficient to pay for the mortgage payment. 

You should start with a focus on a 2 unit multifamily property in a market that you can afford to get into. 

Unless you are finding off-market opportunities direct to seller, I can't imagine the deals working on BRRRR.

Every where you turn there are STRs going up on the market fully furnished because they couldn't pay the mortgage and bills with the rental income. 

As for your ques if to wait, well, it depends on the market, in some parts of the country prices are still going up, slower, but still going up, other parts the prices are coming down, you know that area, what is happening there?