The bigger programs raised their rates ridiculously and provide a lot of generic outdated material. 

Do you mean the piece of material (either steel or concrete) used for repair, or one spot of a house that needs to be lifted?

There are probably many posts that contain similar information to this one, but I thought it would be of value to future and existing investors who are starting their journey.We recently completed rehabbing a duplex we bought for $93k and rehabbed for $75k (in retrospect, we could've negotiated a lower price 🤷‍♂️ - discussion for a different post), hitting an ARV of $190k when our target ARV was $170k.Two things that stood out for me that helped us secure a higher ARV that anyone can use in their next BRRRR were:1) Fix the property to be in the top 75th percentile -> To improve our success rate, we consulted with both our agent and our PMC on what kind of materials and finishes the best properties (highest ARV Comps and Rent Rates) had in the area.

@Nicole CotrinoKey factors: Do you materially participate in managing the property?

In a bear market, it’s essential to buy well below market value and stick to high-demand features buyers are prioritizing.High Inflation: During periods of high inflation, the cost of materials and labor often increases, cutting into profit margins.

There was a guy on a bike digging through it looking for scrap metal 30 minutes before.

Can a long-distance investor be considered materially participating in their STR property?  

There are tons of valuable posts, learning materials, and great individuals here on Biggerposckets- so this is already a good start.

If there's a material issue with the property, it's not going away if you cancel your agreement, they'll have to deal with it for the next buyer, too. 

Estimating material costs is easier but the labor is tough.