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. 

Firstly I apologize that I do not have any market insights data specifically, but Houston has been a rough market as valuations have pulled back.

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

Quote from @Devin James: Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball build larger homes. average new build in our market is 2200 square feet, 4 beds, 3 baths, 2 car garage and sells for 515k. construction costs lower if design is good and find the median or average home sale price and push that up. my guess is you built too small. 347k is cheap. we target 429-479k price range in columbus ohio for single family homes and also only purchase close to urban core where premiums are 20% higher and we build smaller like 1500 sq ft where price per square foot goes up. 

Well, yes, some properties may require complete work, but others may just need cosmetic things to bring them back on the market.

Just shop around online, look for properties similar to yours, add them to favorites and watch them to see how long it takes for them to rent.

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. 

While we are not immune to market shifts, we typically don't see huge bubble bursts. 

My lawyer suggests in a situation like this that I give them a notice that I am the new owner and that as of a certain date they owe market rent of $X,XXX.

We paid off our primary home last year and have been slowly getting the courage to jump into the investing market where we live in the Pacific Northwest.