If the market gets over saturated with new landlords (thanks to BP) and we end up with large rent drops.

Maybe it was a resort-ish city thing there in UT or A class saturation. 

Fortunately for me, my RE market is saturated with government employees who will not be laid off or lose pay for the most part, maybe a few reassignments.

Larger developers are building upscale apartments like crazy here (literally #3 market in the country for these luxury builds) which has saturated the market making tenants less inclined to pay top dollar for older multi family residences.

I’m not operating in any market that’s over saturated or doesn’t have a long history of a strong rental market.

Like you mentioned, prices are high here right now for good ROI, and on top of that the market is pretty saturated for rentals at the moment, so it's those unique/renovated/thoughtfully designed properties that offer extra character and charm that keep higher occupancy levels and offer a (somewhat better) ROI.

But I'm not apposed to flips, whatever the market dictates.I have do have a question, is the Baltimore area saturated or is it still a viable market to invest?

Regardless of market saturation and the limit of true great deals, you will always have a plethora of wholesalers.

The Columbus STR market was getting saturated, and then COVID happened.

After doing some research the local market it looks pretty saturated with not a lot of movement (buying/selling).