Recognize there are challenges doing BRRRRs since the rate increases that have occurred in the last couple years

And that's best case scenario.

In this market, I would not finance a first time flipper at 75% profit split because the profits and success rate is lower than the last dozen years.  

So Cap-X erodes away cash-flow, at a compounding rate over time.

Low vacancy rates, rising rents, and high tenant demand for more space/good school districts. 

Well if you ran realistic conservative numbers for maintenance, capex, vacancy rates, rental income, etc then you don't really need cash flow do you?

I'm currently pre-approved but my lender gave me a "mid-level rate" which I believe isn't my actual rate since I haven't chosen a property but me not being as educated on the behalf and thinking it was my actual rate I decided to rate shop a bit.

We also have many unique buyer incentives where an investor can get up to a 10% price reduction to come into immediate equity, or get that 10% as a cash back at closing to reduce your down payment and increase your ROI, or buy rates down into the low 4s on 30yr loans to maximize cash flow.

I always enjoy reading your updates and thoughts on the area.So, what is your best area right now according to your data and opinion?

Is it the last rental rate you charged, or is it the going rate in the area + 10%?