We are still seeing many of these homes being listed for 100%+ over what they purchased a couple years ago.As a buyer, the positive is that the good majority of leveraged Airbnb investors have moved on from Joshua Tree leaving mostly cash buyers and if buying now, you should have a lot of leverage to negotiate with since the competition has thinned out.Mortgage interest rates move with the Fed and the general consensus is that there will be possibly only one rate cut this year in Q3 or Q4 with no more cuts until next year.

That's where bad experience/nightmare come in.Lastly, to answer your question, to build a basically designed, square/rectangular house without crazy jigsaw puzzled cuts on roof, the following price is a good competitive construction only price for what you need to do:Around $165 per sq ft on conditioned space (for an average 1200 to 1800 sq ft house, 8-9ft high ceiling, everything is investor grade finishes), $90-100 per sq ft for garages/unconditioned storage, $60 per sq ft for porches/opened spaces.  

Hello Biggerpockets,I’m a moderately experienced and networked real estate investor looking to start exploring the wholesaling niche here in LA.Looking for a gut check of my strategy, and to speak with anyone pursuing similar niches here in LA or other highly competitive markets.Context and backgroundMy first deal was a massive live-in flip.

Currently in a 23’ M4 Competition Xdrive.

Our area is still too competitive for that.

there's no buying a BRRRR deal with $0 - you need cash to buy, and then you need cash every month to pay the holding costs and service the debt during the rehab.lots of things are making BRRRR tough right now, especially the increase in interest rates and the fact that prices have leveled off. if you did a BRRRR in 2020 and just waited 12 months, prices would go up, and that would help your appraisal. that is not the case anymore. other factors are making it difficult too - there is lots of competition for deals, both on and off market; lots of good contractors are booked up; and lending has tightened a little, and it's harder to get a higher LTV.so just to be clear: -BRRRR requires lots of cash - it's way more cash intensive than portrayed-BRRRR is not a cash flow strategy - you will end up with a break even property-if done right, you'll wait 3-12 months to get some (or close to call if you really crush it) of your invested cash backI know this wasn't your exact question, but I had this typed up for another thread and thought it was relevant herehope this helps

I'm aware of seller financing as a possible option and will be on the lookout, but it certainly dramatically lowers my deal pool in an already incredibly competitive market.

So, even if a deal seems just okay this year, it could turn into a really good one in the next couple years.Also, selling houses in Orlando is super competitive these days.

As @Nicholas L. said, house hacking is the best for that, especially in a less competitive market.

Additionally Section 8 owns a ton of apartment complexes so there is aggressive competition when compared to the single family vouchers that are very commonly available to us small-time housing providers.Love to talk Toledo, again thank you for the interest!