Cash flowing at 5% down was possible about 3 years ago—but that ship may have since sailed.Now, you’re left with two options: you can either pony up more cash per deal, or you can potentially look out of state for markets with more favorable rent-to-price ratios.Or…you can wait for rates to decline, but I don’t know how much a 100 or 150 basis point rate cut in the next year will really move the needle.That said, some firms (usually new construction companies, turnkey providers, etc.) will enter into forward commitments with lenders at institutional rates and then pass cost interest rate savings onto end buyers to entice them to purchase a property.

Where are the places that I can meet someone who I can potentially work with?

I've found a potential tenant that would love to do a lease option, or rent it with the option to buy at the end. 

I do not have loads of cash at hand, I have a few connections which I could potentially pool some cash together with.

Flipping houses in the current real estate climate with higher interest rates impacting long-term rentals offers exciting possibilities.Given the strong seller's market in the Dallas-Fort Worth metroplex, including Garland, selling your flipped property could yield a quick turnaround and potentially higher profits.

@Seth RoseI would look at the approach from a revenue mindset, not a discount mindset (which is where the BRRR concept was born).Firstly, I would like to point out that properties with great cash flow potential and deep equity positions aren't just floating around the MLS.

Potentially, I may still take a complete loss on it. 

They are trusting in the potential value of the "Hard" Asset.

They offer potential without the heavy competition of more established markets.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!