To be more specific about what i'm looking to do: My 1-2 year goal is to employ the BRRRR strategy with SFHs and Condos by buying distressed / highly undervalued properties that need work (preferably all-cash) in low crime areas with strong rental demand, renovate them within budget (again preferably all-cash) and get them rent ready before refinancing them at the highest ARV possible.

Low end MFH is overpriced for the current rent amounts. 

There was no chance of seller financing, and the cash investor price was too low for the sellers.  

Based on my calculations, even with a low down payment, I can achieve positive cash flow (with aggressive enough house hacking).

And thus, intelligent persons knowing this, they have no interest dealing with a low quality, poor performance, "wholesaler".

We've seen some unique things in the covid era 2020-2024 like high appreciation (that is not the norm), the low interest rates we had (prior to 2022), and the past year the stock market has done incredibly well (up 20% over the last year).

The vacancy was low and rents were fair based on comps. 

My plan is to use a low down payment conventional loan, and with the factors you mentioned, it’ll likely be tough to find a property that breaks even.

If you want to buy your first property ASAP, house hacking (duplex, triplex, or renting extra rooms) is one of the best ways to start with a low down payment while learning property management.

Green for low and red for high property values.