As others have mentioned, everywhere around the Catskills, Hudson, Beacon are all exploding with second homes and move-outs from the city.

I remember reading about a horror story where an investor purchased a vacant property where the pipes ran dry and they basically exploded when tenants moved in, causing a major headache.

FWIWIt isn't on the CA news but Phoenix, Chandler and Tempe in AZ are exploding with "move in" companies in High Tech.

In my area (central NE) material costs are exploding, however you may have enough margin to still make it work and if the 12 SFRH acquisition needs to happen soon then maybe materials cost will just be the cost of doing business to allow you to acquire these 12.  

We're both in the New York City area and I think we both have seen the rental market absolutely explode here.

Our market in Tampa is exploding here.

Bought a house in Brantford before the market exploded and want to BRRRR a property, but it seems extremely difficult to do given the cost of houses here.

Might I recommend a very VERY over looked area poised to explode in value and produce a better cap rate in the meanwhile.. 

The difference is though...everyone needs shelter, the population is exploding and they aren't making anymore land.

First, explode all school districting and end public school monopolies.