If you're in the private sector it is not as easy as you might think.   

When researching, we looked for markets that had consistent population growth, job growth, home value and rent appreciation, and markets that had a variety of job sectors.

The auto, healthcare, and education sectors employs a lot of people in the area that you can provide a quality rental to. 

Many in the sector require 3-6 months, whereas many conventional lenders are 6 months+.• Recourse or non-recourse? 

Unless you have a roadmap you feel confident about it's difficult to proceed with the kind of confidence you need to take calculated risk.I would also agree very much with @Bjorn Ahlblad right now if you are purchasing a new investment and we are recession bound you want to have plenty of cash on hand to weather the storm the last thing you need when you get going is to walk into a foreclosure situation.Personally I have put the brakes on BRRRing for now until the 15% unemployment surge plays out because I do not want to rely on properties increasing, the next 3 - 6 months could get rocky in the SFR sector and I want to be well positioned to take advantage of any downturns. 

A city or submarket that is growing fast on paper, may not be creating diverse or high paying jobs that are needed to help the region to endure the next drop in the economic cycle, or even a disruption to a specific industry sector.  

In States like North Carolina where the small independent power producers are regulated out of business, the small commercial sector is the only place we have left to run to;( Those of Us in the ground Mount space aren't about to start to become rooftoppers!

To be honest, I don't see any slow down at all in the overall industry, but possibly a slow down in that specific sector. 

I've been a professional in the financial sector for years and know all about this stuff.

I find that there are pigs in every sector.