One of our borrowers who successfully flips on the South Side (Dobson, Park Forest, etc.) is capitalizing on the abundance of discounted rehab properties (on market and off market via wholesalers and the such), which is a key strategy given rising rates. 

The markets investors like you want to live in and invest in are often two totally different places, so don't limit yourself yo a single plan. 

Have you all invested in other markets already or is this the first? 

It doesn't sound like you visited the market, the PM, or the seller in these markets.

One thing I’ve learned in land acquisition is that the approach has to change depending on the market.

It also does NOT pay more than market rent.

Quote from @Alex Olson: Kansas City is a great market for Build to Rent and traditional garden style apartment complexes.  

Kissimmee & Downtown Orlando for STRs – Market Overview•Kissimmee is one of the most popular STR markets in Florida due to its proximity to Disney World and other major attractions.

I suspect you are in a much more affluent market than I am.

That's the nature of the market in 2025.