My Class A (nice suburb and great schools) is doing well, except for the significant property tax increases. 

If the market in your area is trending upward, waiting a little longer could also help increase the appraised value.

In several markets I follow there has been a HUGE increase in taxes year over year for the past several years.

But, insurance costs are likely to rise, making getting mortgages for most people even harder to get.What is likely to happen is more creative financing going forward, private lending to increase and smaller houses being built in the future. 

I still think it is a good area to invest in despite the increases in cost.  

The rentals are scarce and rents have increased in recent years.

However, it’s important to ensure the seller is comfortable with the terms and that the property cash flow can support the agreed-upon monthly payments.Seller financing can be a good strategy to grow your portfolio with less initial capital, especially if you're able to increase the property's value through improvements (forcing appreciation).

I own two properties there, but insurance costs have skyrocketed.Lately, securing home insurance has become increasingly challenging due to the high risk of hurricanes, flooding, and other factors.

My main aim of interest in real estate is to increase cash flow and overall build wealth that can replace my day job and give me more flexibility with my time.

You might make it work if you can find a way to increase cash flow aside from the basic long term rental strategy.