It may also pay off to wait a little to see what happens with the market bubbles but either way I would strongly encourage you to hold off in order to avoid any impulse buying which would be a big mistake.

If we make impulsive decisions, we will usually fail (and by "usually" I really mean "always").

My problem will be that I actually LIKE to do (have someone else do)  some rehab but I know if I want to make a profit, I am really going to have to control my rehab impulses and go for the essential items that give the most bang for the buck.  

When you look at the going cap rates investors are willing to pay in this region coupled with the fact that many commercial loans on rebound properties are coming up for refinance in the next couple of years I think investors should be very cautious in that arena.Your best bet is to buy smart and leave the bad deals to the impulse or emotional buyers. 

People are impulsive enough to sell their California house to move to Montana within 6-12 months of Covid, they will be impulsive enough to go back once they realize not all was resolved.

You got creamed because you got in over your head. 20k over on something that doesn't cashflow properly is an impulse purchase not a level headed business decision. 

Trust me, it took me six years to get my wife to understand that impulse buying when something was on "sale" wasn't saving anything.Where am I going with this?

Their system is designed for the impulse buyer for sure.  

Are you responsible enough to make careful and conscious spending decisions and take good care of your possessions, or do you just impulsively buy them, trash them, and then go out and buy more once they get worn out and you get tired of them and want for something new?

Soak up as much as you can then make a sound and not impulsive decision.