BRRRR (Buy, Rehab, Rent, Refinance, Repeat) may be an effective capital recycling technique, but it needs a thorough awareness of the local market, remodelling costs, and financing options.3.

It is very likely that you will recycle buyers before you actually sell the home but that is part of the business and can also be profitable. 

Not as much of a long term appreciation play as it is a way to recycle money quickly and get rentals.

By no means a home run or the benefit of low money down or cash recycling with BRRRR, but that simple classic 1% minimum deal is still a much more solid return than other investment vehicles or dead money in the bank.

Hard money loans pay at 10+% interest, are short-term, so the money recycles quickly (the vast majority of the time), and you are first position on a deed of trust - meaning you can simply foreclose if things go wrong (research your state laws carefully, as this is truer in some states, and less true in others). 

@Kevin Siedlecki Recycling this thread, but curious what direction you went.  

Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/ Another example of economic growth is the upcoming Ohio State University Wexner Medical Center Inpatient Hospital which is a 1.9million square foot hospital that will bring over 800 new beds and a thousand new jobs. https://abc6onyourside.com/news/local/new-osu-hospital-expected-to-transform-health-careHere are a few more recent investments https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0 https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus Check out The Complete Guide to the Columbus, Ohio Real Estate Market which goes through the Columbus, Ohio market in depth and will give you a better scope of where the highest levels of growth are taking place and where to look to invest.  

Steel is energy based whether virgin ore which China primarily does or recycled steel which the U.S. does.  

We are in very great times in the current business and RE cycles, thought the last 30 years alone tells us that won't last forever.  

[I hope you don't make a habit of waiting until the top of RE cycles to consider more buying]...