I am unable to discern a pattern.

Use the BP calculators to discern what makes sense and not lose sight of holding costs.

They typically look like signing fees, document prep fees, etc that are a fee for no discernible service. 

It's helped me really try to understand the risk of being in 2nd position, as well as discern whether this is the right way for me to get started.

What we all care about is the impact on business-side activity and that is going to require a lot of time in the details to really discern. 

The huge challenge is actually discerning what those areas are and not talking yourself into a property that's in a "below average area" because the price looks right. 

What I can discern from your answer is that you are not willing to pay higher taxes and would rather pay higher premiums. 

Same as just paying $150k market value.Hope that helps you discern what properties might make good BRRRR candidates.

If people are walking away it sounds like you’re looking for a buyer with emotion that “wants land” rather than someone who is looking for discernible ROI.

It may be good, but If I am doing better than the Financial Advisor himself, especially in measurable metrics like overall Internal Rate of Return (IRR), then I'm probably much better off with my own advice and not switching it around.I am completely in agreement that you need to qualify and discern any advice you are given.