It is a very competitive market and units in the tens of thousands.

There is no one size fits all answer for this question, market to market, and property to property are all different. 

I think this is a very underutilized strategy in this type of market

How valuable is this location in that market? 

What are some other emerging markets maybe with a bit lower to cost to entry for a BRRRR strategy?

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

What's your criteria for the market you're interested in? 

I am considering a 12 unit multifamily property in my home market of Harrisburg, PA. 

If you like where you live, I would explore investing in a cheaper out-of-state market. 

So they used the actual rented data of these companies to compare what rentals should go for in your market.